Section 130.126 - Long-Term Notes(a) The governing board of a public junior college district or regional college district located in one or more counties having a total population of at least 100,000 according to the last preceding federal census may issue notes to pay expenses of asbestos cleanup and removal in the district.(b) Notes issued under this section must be secured by a designated portion of the issuer's revenues, which may include ad valorem maintenance taxes, and must mature not later than the first day of the 15th year after the date on which the notes are issued.(c) A note issued under this section is debt under Section 26.012, Tax Code.(d) Except as provided by Subsection (b) of this section, the governing board of a public junior college district or regional college district must issue the notes in the manner provided by Chapter 1201, Government Code.Tex. Educ. Code § 130.126
Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.227, eff. 9/1/2001.Added by Acts 1991, 72nd Leg., 1st C.S., ch. 4, Sec. 15.01, eff. 8/22/1991.