BONDS.
Tex. SPEC. DIST. LOCAL LAWS Code § 3501.106.
in effect(a) The authority may issue bonds if authorized by board resolution.
(b) A bond issued under this chapter must:
(1) be payable solely from authority revenue;
(2) mature not later than 40 years after its date of issuance; and
(3) state on its face that it is not an obligation of this state or a municipality.
(c) The authority may exercise the powers granted to the governing body of an issuer with regard to the issuance of obligations and the execution of credit agreements under Chapter 1371 , Government Code.
Added by Acts 2005, 79th Leg., Ch. 423 (S.B. 1751 ), Sec. 2, eff. June 17, 2005.
SUBCHAPTER D. TRANSFER OF OWNERSHIP; DISSOLUTION