Texas Water Code 61.170 – Authority to Incur Debt
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(a) The district may issue bonds for the purposes stated in Section 61.151 of this code and for the purpose of
(1) acquiring necessary land, rights-of-way, or dumping grounds;
(2) extension or improvement of belt railway lines; or
(3) construction of improvements, wharves, docks, or other facilities or aids to navigation.
(b) The obligations may be secured by liens on the property acquired, constructed, or improved. Available revenue may be pledged as additional security.
Terms Used In Texas Water Code 61.170
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Property: means real and personal property. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) The district may borrow funds for current expenses and may evidence the debt by warrants payable not later than the close of any calendar year for which the loans are made. The warrants shall never exceed the anticipated revenue.