Texas § SD.8101.257 - BOND SECURITY
Full text of Texas The Texas Constitution § SD.8101.257 — BOND SECURITY, with citation guidance and answers to common questions.
§ SD.8101.257. BOND SECURITY
BOND SECURITY; REVENUE; TAXES; ADDITIONAL BONDS. (a) In this section, "net revenue" means the gross revenue of the authority after deducting the amount necessary to pay the cost of maintaining and operating the authority, including its properties. (b) Bonds issued under this subchapter may be secured by: (1) a pledge of all or part of the net revenue of the authority, including the net revenue of a past or future contract; or (2) other revenue and income specified by resolution of the board or the trust indenture. (c) If bonds are issued payable wholly or partly from taxes, the board shall impose taxes on all taxable property in the authority without limit as to rate or amount while those bonds are outstanding. The board shall impose the taxes in amounts: (1) sufficient to pay the principal of and interest on the bonds annually as they mature; or (2) required to supplement the net revenue pledged to the bonds' payment so that the principal of and interest on the bonds are paid when due. (d) A bond security pledge under this section may reserve to the authority the right, under conditions specified by the pledge, to issue additional bonds that will be on a parity with or subordinate to the bonds then being issued. Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Frequently Asked Questions About Texas § SD.8101.257
What does The Texas Constitution § SD.8101.257 cover?
Section SD.8101.257 ("BOND SECURITY") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § SD.8101.257?
A common citation format is "The Texas Constitution § SD.8101.257" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § SD.8101.257 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.