By majority vote of the governing body, the municipality may issue drainage revenue bonds. The municipality may use Chapter 1201, Government Code. In addition, the municipality may pledge income received by contracts for the provision of drainage to other governments or governmental subdivisions located inside or outside the service area.
Tex. Loc. Gov't Code § 552.051
DRAINAGE REVENUE BONDS
Known as the Municipal Drainage Utility Systems Act
The act spans §§ 552.041 to 552.054 (15 sections).
Acts 1987, 70th Leg., ch. 149, 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.