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.
Authority of Board To Issue Obligations
Tex. Local Government Code § 254.053, under Acquisition and Development of Island Property.
Tex. Local Government Code § 254.053