{"data":{"id":"us-tx/tex.-utilities-code-163.087","jurisdiction":"us-tx","citation":"Tex. Utilities Code § 163.087","heading":"NONNEGOTIABLE PURCHASE MONEY NOTES.","body":"(a) The agency may issue nonnegotiable purchase money notes to acquire land or fuel resources.\n(b) Nonnegotiable purchase money notes are:\n(1) payable in installments;\n(2) secured by the property acquired with the notes or other collateral the agency substitutes; and\n(3) not a security or agency obligation.\n(c) Nonnegotiable purchase money notes may be further secured by a promise to issue bonds or bond anticipation notes to pay the purchase money notes.\nAdded by Acts 2015, 84th Leg., R.S., Ch. 1162 (S.B. 776), Sec. 3, eff. September 1, 2015.","path":["UTILITIES CODE","TITLE 4. DELIVERY OF UTILITY SERVICES","SUBTITLE A. UTILITY CORPORATIONS AND OTHER PROVIDERS","CHAPTER 163. JOINT POWERS AGENCIES","SUBCHAPTER C-1. ALTERNATE GOVERNANCE FOR CERTAIN MUNICIPAL POWER AGENCIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/UT/htm/UT.163.htm#163.087","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:45Z","sha256":"ce1525cc05dbdc1129d1dbf5bebae21e211a5a79b9591d4371b4ed56e3242852","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-utilities-code-163.086","next":"us-tx/tex.-utilities-code-163.088"},"notice":"GroundRules: Original legal text. Not legal advice."}