Revenue Bonds

Sec. 1401.061. REVENUE BONDS. (a) The authority may: (1) issue revenue bonds; and (2) distribute the bond proceeds to any appropriate agency to: (A) acquire, construct, or equip a new facility; or (B) make a major repair of or renovate a: (i) facility; (ii) corrections institution, including a facility authorized by Section 495.001(a) or 495.021(a); (iii) criminal justice facility for the Texas Department of Criminal Justice; (iv) youth corrections institution; or (v) mental health institution or intellectual disability institution. (b) The bond proceeds may be used to refinance an existing obligation for a purpose described by Subsection (a). Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by: Acts 2023, 88th Leg., R.S., Ch. 30 (H.B. 446), Sec. 5.23, eff. September 1, 2023.