{"data":{"id":"us-tx/tex.-special-district-local-laws-code-6903.305","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 6903.305","heading":"BONDS PAYABLE FROM REVENUE.","body":"(a) In this section, \"net revenue\" means the gross revenue of the district less the amount necessary to pay the cost of maintaining and operating the district and its property.\n(b) Bonds issued under this subchapter may be secured under board resolution by a pledge of:\n(1) all or part of the district's net revenue;\n(2) the net revenue of one or more contracts made before or after the issuance of the bonds; or\n(3) other revenue specified by board resolution.\n(c) The pledge may reserve the right to issue additional bonds on a parity with or subordinate to the bonds being issued, subject to conditions specified by the pledge.\n(d) Bonds not payable wholly or partly from ad valorem taxes may be issued without an election.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.06, eff. April 1, 2009.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 6. WATER AND WASTEWATER","SUBTITLE B. FRESH WATER SUPPLY DISTRICTS","CHAPTER 6903. EASTLAND COUNTY WATER SUPPLY DISTRICT","SUBCHAPTER G. BONDS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.6903.htm#6903.305","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"79a5ce07eec70898633d6132c07ba5abd18c417aac453b0c0a9ae5319089edce","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-6903.304","next":"us-tx/tex.-special-district-local-laws-code-6903.306"},"notice":"GroundRules: Original legal text. Not legal advice."}