Sec. 254.053.  AUTHORITY OF BOARD TO ISSUE OBLIGATIONS.  A board by resolution may issue in the name of the board, with the consent of the governing body of the municipality:
(1)  obligations payable from revenue in the manner provided by this chapter and refund previously issued obligations;
(2)  expense notes drawn against the revenues of the board to pay expenses during the fiscal year of the board in which the notes are issued;  and
(3)  certificates of participation in contractual obligations to pay money.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 9, eff. Sept. 1, 1999.