Gavvy: Spec. Dist. Loc. Laws Code, Sec. 5010.0406. Authority to Borrow Money for Current Expenses; Evidence of Obligation.

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Sec. 5010.0406. Authority to Borrow Money for Current Expenses; Evidence of Obligation.


Sec. 5010.0406.  AUTHORITY TO BORROW MONEY FOR CURRENT EXPENSES; EVIDENCE OF OBLIGATION.  (a)  The district may:
(1)  borrow money for current expenses; and
(2)  evidence the borrowed money by warrants.
(b)  The amount of the warrants may not exceed the anticipated revenue.
Added by Acts 2019, 86th Leg., R.S., Ch. 495 (H.B. 4666), Sec. 1, eff. September 1, 2019.

Gavvy last updated this database on: Sep 6, 2024