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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 10. GENERAL GOVERNMENT |
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Subtitle G. ECONOMIC DEVELOPMENT PROGRAMS INVOLVING BOTH STATE AND LOCAL GOVERNMENTS |
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Chapter 2306. TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS |
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Subchapter P. HOUSING FINANCE DIVISION BONDS: ISSUANCE OF BONDS |
Sec. 2306.353. REVENUE BONDS
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(a) In addition to issuing general obligation bonds under Section 2306.352, the department may issue revenue bonds to provide money to carry out a purpose, power, or duty of the housing finance division under this chapter.
(b) The bonds may be issued from time to time in one or more series or issues.
(c) The bonds shall be payable as to principal, interest, and redemption premium, if any, from, and secured by, a first or subordinate lien on, and pledge of, all or part of the revenues, income, or other resources of the housing finance division, including:
(1) the repayments of mortgage loans;
(2) the earnings from investment or deposit of the reserve fund and other funds of the housing finance division;
(3) the fees, charges, and other amounts or payments received under this chapter; and
(4) appropriations, grants, allocations, subsidies, rent supplements, guaranties, aid, contribution, or donations.