Texas Water Code 58.391 – Authority to Borrow Money
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Terms Used In Texas Water Code 58.391
- Year: means 12 consecutive months. See Texas Government Code 311.005
The board may declare that funds are not available to meet lawfully authorized obligations of the district, thereby creating an existing emergency, and may borrow money at a rate of not more than 10 percent a year on notes of the district to pay obligations.