Texas § SD.8503.012 - PAYMENT OF DEBTS
Full text of Texas The Texas Constitution § SD.8503.012 — PAYMENT OF DEBTS, with citation guidance and answers to common questions.
§ SD.8503.012. PAYMENT OF DEBTS
PAYMENT OF DEBTS. Any indebtedness, liability, or obligation of the authority for the payment of money, however entered into or incurred and whether arising from contract, implied contract, or otherwise, is payable solely: (1) out of revenues received by the authority with respect to its properties, subject to any prior lien on the revenues conferred by any resolution or resolutions adopted as provided by this chapter authorizing the issuance of bonds; or (2) if the board so determines, out of the proceeds of sale by the authority of bonds payable solely from those revenues. Added by Acts 2003, 78th Leg., ch. 996, Sec. 1, eff. Sept. 1, 2003. Renumbered from Water Code, Section 222.012 by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167 ), Sec. 13.006(b), eff. September 1, 2007.
Frequently Asked Questions About Texas § SD.8503.012
What does The Texas Constitution § SD.8503.012 cover?
Section SD.8503.012 ("PAYMENT OF DEBTS") 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.8503.012?
A common citation format is "The Texas Constitution § SD.8503.012" (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.8503.012 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.