{"data":{"id":"us-tx/tex.-special-district-local-laws-code-1057.153","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 1057.153","heading":"AUTHORITY TO BORROW MONEY; SECURITY.","body":"(a) The board may borrow money at a rate the board determines is reasonable.\n(b) To secure a loan, the board may pledge:\n(1) district revenue that is not pledged to pay the district's bonded indebtedness;\n(2) tax revenue to be collected by the district in the next 12-month period that is not pledged to pay the principal of or interest on district bonds;\n(3) district bonds that have been authorized but not sold; and\n(4) any other unencumbered district assets.\n(c) The board may use the proceeds of a loan made under this section only for the district's operational and capital requirements.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 3. HEALTH","SUBTITLE A. HOSPITAL DISTRICTS","CHAPTER 1057. MATAGORDA COUNTY HOSPITAL DISTRICT OF MATAGORDA COUNTY, TEXAS","SUBCHAPTER D. GENERAL FINANCIAL PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1057.htm#1057.153","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"65b57dcf823f1426814455ecda4e1eb89ca8f64350aa10d7f5abf98eeea3a76b","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-1057.152","next":"us-tx/tex.-special-district-local-laws-code-1057.201"},"notice":"GroundRules: Original legal text. Not legal advice."}