Sources Available For Payment

Sec. 1207.0621. SOURCES AVAILABLE FOR PAYMENT. An issuer may pledge to the payment of a refunding bond issued to make a deposit under this subchapter: (1) any surplus income to be earned from the investment of a deposit made under this subchapter; (2) any other available revenue, income, or resource; or (3) both surplus income described by Subdivision (1) and any other available revenue, income, or resource. Added by Acts 2001, 77th Leg., ch. 1420, Sec. 8.003, eff. Sept. 1, 2001.