Tex. Spec. Dist. Local Laws Code Section 7816.0403
Bond Anticipation Notes

(a)

In addition to all other methods of acquiring money for district purposes, the district may issue bond anticipation notes for any purpose for which district bonds have been voted or may be issued to refund outstanding bond anticipation notes and the interest on the notes being refunded.

(b)

The notes may bear interest at any rate not to exceed the maximum interest rate applicable to the district’s authorized bonds.

(c)

The district shall pay the notes only from the proceeds of the sale of bonds by the district.
Added by Acts 2019, 86th Leg., R.S., Ch. 557 (H.B. 4726), Sec. 1, eff. June 10, 2019.

Source: Section 7816.0403 — Bond Anticipation Notes, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­7816.­htm#7816.­0403 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 7816.0403’s source at texas​.gov