Tex. Spec. Dist. Local Laws Code Section 1027.160
Authority to Borrow Money in Emergency; Security

(a)

The board may borrow money at a rate not to exceed the maximum annual percentage rate allowed by law for district obligations at the time the loan is made if the board declares that:

(1)

money is not available to meet authorized obligations of the district; and

(2)

an emergency exists.

(b)

To secure a loan, the board may pledge:

(1)

district revenue that is not pledged to pay the district’s bonded indebtedness;

(2)

district taxes to be imposed by the district during the 12-month period following the date of the pledge that are not pledged to pay the principal of or interest on district bonds; or

(3)

district bonds that have been authorized but not sold.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Source: Section 1027.160 — Authority to Borrow Money in Emergency; Security, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1027.­htm#1027.­160 (accessed Jun. 5, 2024).

1027.001
Definitions 1027.002
Authority for Operation 1027.003
Essential Public Function 1027.004
District Territory 1027.005
Correction of Invalid Procedures 1027.006
District Support and Maintenance Not State Obligation 1027.051
Board Election 1027.052
Change in Election Format 1027.053
Notice of Election 1027.054
Qualifications for Office 1027.055
Board Vacancy 1027.056
Officers 1027.057
Compensation 1027.058
Voting Requirement 1027.059
District Administrator 1027.060
General Duties of District Administrator 1027.061
Appointment and Recruitment of Staff and Employees 1027.101
District Responsibility and Authority 1027.102
Restriction on Political Subdivision Taxation and Debt 1027.103
Management, Control, and Administration 1027.104
Hospital System 1027.105
Rules 1027.106
Purchasing and Accounting Procedures 1027.107
Provision of Certain Health Services 1027.108
District Property, Facilities, and Equipment 1027.109
Eminent Domain 1027.110
Gifts and Endowments 1027.111
Construction Contracts 1027.112
Operating and Management Contracts 1027.113
Contracts for Care and Treatment 1027.114
Contracts with Governmental Entities for Investigatory or Other Services 1027.115
Payment for Treatment 1027.116
Authority to Sue and Be Sued 1027.117
Authority to Provide Health Care Services 1027.151
Budget 1027.152
Notice 1027.153
Amendments to Budget 1027.154
Fiscal Year 1027.155
Audit 1027.156
Inspection of Audit and District Records 1027.157
Financial Report 1027.158
Depository 1027.159
Spending and Investment Restrictions 1027.160
Authority to Borrow Money in Emergency 1027.201
General Obligation Bonds 1027.202
Tax to Pay General Obligation Bonds 1027.203
General Obligation Bond Election 1027.204
Revenue Bonds 1027.205
Refunding Bonds 1027.206
Maturity of Bonds 1027.207
Execution of Bonds 1027.208
Bonds Exempt from Taxation 1027.251
Imposition of Ad Valorem Tax 1027.252
Tax Rate 1027.253
Tax Assessor-collector 1027.301
Dissolution 1027.302
Notice of Election 1027.303
Ballot 1027.304
Election Results 1027.305
Sale or Transfer of Assets and Liabilities
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 1027.160’s source at texas​.gov