Bonds issued under this subchapter must be secured by a pledge of and be payable from the net revenue of the municipal water and sewer system, including any district property purchased with the bond proceeds.
Tex. Gov't Code § 1501.204
PLEDGE OF REVENUE
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.