- (a) For the purpose of constructing improvements related to the exercise of any power conferred on the authority by law, the authority may, without an election, issue bonds secured by a pledge of revenues of the authority without reference to their source and with the priority of liens prescribed in the proceedings authorizing the issuance of the bonds.
- (b) The bonds must be authorized by a board resolution concurred in by at least eight directors.
Added by Acts 2025, 89th Leg., R.S., Ch. 240 (H.B. 2692), Sec. 1, eff. May 29, 2025.