Texas § SD.8888.253 - BONDS AND NOTES
Full text of Texas The Texas Constitution § SD.8888.253 — BONDS AND NOTES, with citation guidance and answers to common questions.
§ SD.8888.253. BONDS AND NOTES
BONDS AND NOTES. (a) To carry out a power conferred by this chapter, the authority may issue bonds secured by all or part of the revenue from any source, including any source described by Section 8888.251 (a). (b) In issuing or securing a bond or note of the authority, the authority may exercise any power of an issuer under Chapter 1371 , Government Code. (c) The authority may conduct a public, private, or negotiated sale of the bonds. (d) The bonds must: (1) be authorized by board resolution; (2) be issued in the authority's name; (3) be signed by the board president or vice president; (4) be attested by the board secretary; and (5) bear the authority's seal or facsimile seal. (e) The bonds may be secured by an indenture of trust with a corporate trustee. (f) The authority may issue bonds in more than one series as required for carrying out the purposes of this chapter. In issuing bonds secured by the authority's revenue, the authority may reserve the right to issue additional bonds secured by the authority's revenue that are on a parity with or are senior or subordinate to the bonds issued earlier. (g) The resolution authorizing the bonds or the trust indenture securing the bonds may specify additional provisions that constitute a contract between the authority and the authority's bondholders. The board may provide for: (1) additional bond provisions; and (2) a corporate trustee or receiver to take possession of the authority's facilities if the authority defaults. (h) Section 49.181 , Water Code, does not apply to bonds or notes issued by the authority. Added by Acts 2017, 85th Leg., R.S., Ch. 869 (H.B. 2803 ), Sec. 1.04, eff. April 1, 2019.
Frequently Asked Questions About Texas § SD.8888.253
What does The Texas Constitution § SD.8888.253 cover?
Section SD.8888.253 ("BONDS AND NOTES") 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.8888.253?
A common citation format is "The Texas Constitution § SD.8888.253" (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.8888.253 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.