Tex. Health & Safety Code Section 383.026
Pledge of Other Utility Revenue; Election

(a)

In addition to the security under Section 383.025 (Pledge of Revenue as Security; Election), a municipality’s or county’s bonds may be secured, as specified by the resolution or a security agreement, by a pledge of other utility revenue of the municipality or county.

(b)

Before issuing bonds secured by other utility revenue, the governing body must order an election to determine whether the bonds may be issued. The governing body shall set the date of the election in accordance with Section 41.001 (Uniform Election Dates), Election Code. The manner of holding the election is governed by Chapter 1251 (Bond Elections), Government Code. If the majority of voters who vote at the election approve the issuance of the bonds, the governing body may issue the bonds.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.272, eff. Sept. 1, 2001.

Source: Section 383.026 — Pledge of Other Utility Revenue; Election, https://statutes.­capitol.­texas.­gov/Docs/HS/htm/HS.­383.­htm#383.­026 (accessed May 4, 2024).

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Accessed:
May 4, 2024

§ 383.026’s source at texas​.gov