The amount of the loan may not be more than 25 percent of the district's unsold bonds and the par value of the bonds may not be more than 10 percent of the amount of the loan.
Tex. Water Code § 58.394
LOAN SECURED BY BONDS
Added by Acts 1977, 65th Leg., p. 1537, ch. 627, 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.