Texas § WA.55.456 - OBTAINING LOAN WHEN BONDS CANNOT BE SOLD
Full text of Texas The Texas Constitution § WA.55.456 — OBTAINING LOAN WHEN BONDS CANNOT BE SOLD, with citation guidance and answers to common questions.
§ WA.55.456. OBTAINING LOAN WHEN BONDS CANNOT BE SOLD
OBTAINING LOAN WHEN BONDS CANNOT BE SOLD. If the district has any bonds which were issued under the provisions of this code but which cannot, in the opinion of the board, be sold on terms which are advantageous to the district, the district may obtain a loan in an amount of not more than the amount of the unsold bonds. The money may be used for any of the purposes for which the bonds were issued, and the bonds may be pledged as a guarantee or assurance that the loan will be paid. The amount of bonds pledged may not exceed the amount of the loan by more than 15 percent. Acts 1971, 62nd Leg., p. 463, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § WA.55.456
What does The Texas Constitution § WA.55.456 cover?
Section WA.55.456 ("OBTAINING LOAN WHEN BONDS CANNOT BE SOLD") 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 § WA.55.456?
A common citation format is "The Texas Constitution § WA.55.456" (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 § WA.55.456 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.