Texas § TN.451.362 - SHORT-TERM BONDS
Full text of Texas The Texas Constitution § TN.451.362 — SHORT-TERM BONDS, with citation guidance and answers to common questions.
§ TN.451.362. SHORT-TERM BONDS
SHORT-TERM BONDS. (a) Notwithstanding other provisions of this chapter and except as provided by Subsections (c) and (d), the board, by order or resolution, may issue bonds that are secured by revenue or taxes of the authority if the bonds: (1) have a term of not more than 12 months; and (2) are payable only from revenue or taxes received on or after the date of their issuance and before the end of the fiscal year following the fiscal year in which the bonds are issued. (b) A bond issued under this section need not be approved by the attorney general or registered with the comptroller. (c) In an authority in which the principal municipality has a population of 1.5 million or more, bonds may have a term of not more than five years. The bonds are payable only from revenue on taxes received on or after the date of their issuance. (d) In an authority created before 1980 in which the principal municipality has a population of less than 1.9 million, bonds may have a term of not more than 10 years. The bonds are payable only from fee revenue received on or after the date the bonds are issued. Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 2003, 78th Leg., ch. 1325, Sec. 19.09, eff. Sept. 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 89 (S.B. 1074 ), Sec. 1, eff. May 14, 2007. Acts 2011, 82nd Leg., R.S., Ch. 1163 (H.B. 2702 ), Sec. 155, eff. September 1, 2011.
Frequently Asked Questions About Texas § TN.451.362
What does The Texas Constitution § TN.451.362 cover?
Section TN.451.362 ("SHORT-TERM BONDS") 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 § TN.451.362?
A common citation format is "The Texas Constitution § TN.451.362" (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 § TN.451.362 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.