Tex. Spec. Dists. Code § 5004.156

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 5004.156 - Authority to Borrow Money for Current Expenses; Evidence of Obligation

(a) The board may:

(1) borrow money for current expenses; and

(2) evidence the borrowed money by notes or warrants payable not later than the close of the calendar year for which the loan is made.

(b) The total amount of the notes or warrants may not exceed the anticipated revenue.

Tex. Spec. Dist. Loc. Laws § 5004.156

Added by Acts 2007, 80th Leg., R.S., Ch. 920, Sec. 1.04, eff. 4/1/2009.