Tex.
Gov't Code Section 1431.007
General Sources of Payment
(a)
Except as provided by Subsection (b), a governing body may:(1)
provide that anticipation notes be paid from and secured by revenue, taxes, a combination of revenue and taxes, or the proceeds of bonds to be issued by the issuer; and(2)
pledge to the payment of anticipation notes revenue, taxes, a combination of revenue and taxes, or the proceeds of bonds to be issued by the issuer.(b)
The governing body of a flood control district operating as a conservation and reclamation district that issues anticipation notes for one or more purposes described in Section 1431.004 (Uses of Anticipation Note Proceeds)(a)(1) may:(1)
provide that the anticipation notes be paid from and secured by revenue or the proceeds of bonds to be issued by the issuer; and(2)
pledge to the payment of the anticipation notes revenues or the proceeds of bonds to be issued by the issuer.(c)
A governing body issuing an anticipation note or other obligation under Section 1431.015 (Certain Notes or Other Obligations for Emergency Financing) may:(1)
provide that the anticipation note or other obligation be paid from and secured by any revenue, including sales taxes, other taxes, a combination of nontax and tax revenue, the proceeds of bonds to be issued by the issuer, and reimbursements or other funds to be received from the Federal Emergency Management Agency or any other state or federal agency reimbursing or providing funds to the issuer for costs incurred as a result of the emergency; and(2)
pledge to the payment of the anticipation note or other obligation any revenue, including sales taxes, other taxes, a combination of nontax and tax revenue, the proceeds of bonds to be issued by the issuer, and reimbursements or other funds to be received from the Federal Emergency Management Agency or any other state or federal agency reimbursing or providing funds to the issuer for costs incurred as a result of the emergency.
Source:
Section 1431.007 — General Sources of Payment, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1431.htm#1431.007 (accessed Apr. 29, 2024).
