Texas § SD.9015.355 - BONDS PAYABLE FROM REVENUE
Full text of Texas The Texas Constitution § SD.9015.355 — BONDS PAYABLE FROM REVENUE, with citation guidance and answers to common questions.
§ SD.9015.355. BONDS PAYABLE FROM REVENUE
BONDS PAYABLE FROM REVENUE. (a) In this section, "net revenue" means the gross revenue and income of the authority pledged under this section less the amount necessary to pay the cost of: (1) performing any contract, the revenue of which is pledged under this section; and (2) maintaining and operating the authority and its property. (b) Bonds issued under this subchapter may be secured under board resolution by a pledge of: (1) all or part of the net revenue of the authority other than revenue from taxation; (2) the net revenue of one or more contracts made before or after the issuance of the bonds; or (3) other revenue or income specified by resolution of the board or in the trust indenture or other instrument securing the bonds. (c) The pledge may reserve the right to issue additional bonds on a parity with, or subordinate to, the bonds being issued, subject to the conditions specified in the pledge. (d) Bonds not payable wholly or partly from ad valorem taxes may be issued without an election. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166 ), Sec. 1.12, eff. April 1, 2009. Renumbered from Special District Local Laws Code, Section 9009.355 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969 ), Sec. 27.001(85), eff. September 1, 2009.
Frequently Asked Questions About Texas § SD.9015.355
What does The Texas Constitution § SD.9015.355 cover?
Section SD.9015.355 ("BONDS PAYABLE FROM REVENUE") 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.9015.355?
A common citation format is "The Texas Constitution § SD.9015.355" (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.9015.355 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.