Section 8364.151 - Authority to Issue Bonds and Other Obligations(a) For any authorized authority purpose, the authority may issue bonds or other obligations payable wholly or partly from revenue of the authority's water system, sanitary sewer system, or drainage system, including revenue from contracts with member entities or customers, or any combination of those sources of revenue.(b) To provide revenue under Subsection (a), a member entity may make payments under a contract with the authority from any of the member entity's sources of revenue, including ad valorem taxes, impact fees, grants, sales and use taxes, and any other source.Tex. Spec. Dist. Loc. Laws § 8364.151
Amended by Acts 2013, 83rd Leg. - Regular Session, ch. 12,Sec. 5, eff. 5/10/2013.Added by Acts 2011, 82nd Leg., R.S., Ch. 525, Sec. 1, eff. 6/17/2011.