Section 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.Tex. Loc. Gov't. Code § 254.053
Added by Acts 1999, 76th Leg., ch. 227, Sec. 9, eff. 9/1/1999.