Texas Agriculture Code

§ 60.103 — BONDS

AG § 60.103Title 4. AGRICULTURAL ORGANIZATIONS · Ch. 60. TEXAS AGRICULTURAL DEVELOPMENT DISTRICTS · Art. E. FINANCES; BONDS

Statute text

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(a)The district may issue any type of bond, including an anticipation note or refunding bond, for any district purpose. A bond may be issued under Chapter 1371, Government Code.

(b)When authorizing the issuance of a bond, the district may also authorize the later issuance of a parity or subordinate lien bond.

(c)A district bond must:

(1)mature not later than 40 years after its date of issuance; and

(2)state on its face that the bond is not an obligation of the state.

(d)A district bond may be payable from or secured by:

…

Legislative history

Added by Acts 2001, 77th Leg., ch. 1393, Sec. 1, eff. June 16, 2001.