Texas Codes

Tex. Water Code § 58.391 (2026)

Authority To Borrow Money

✓ current as of May 2026
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Sec. 58.391. AUTHORITY TO BORROW MONEY. 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.

Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.

Notes of Decisions
Cited in 3 cases, 2008–2008 · leading case: Engelman Irrigation Dist. v. Texas Comm'n on Env't Quality, 251 S.W.3d 184 (Tex. App. 2008).
Engelman Irrigation Dist. v. Texas Comm'n on Env't Quality, 251 S.W.3d 184 (Tex. App. 2008). “Tex. Water Code Ann. § 58.391 . The Commission points out that the plain language of the water code thus allows Engel-man, if it so chooses, to pay a lawful judgment entered against it by borrowing money under the water code.”
Engelman Irrigation Dist. v. Texas Comm'n on Env't Quality & Shields Bros., Inc. (Tex. App. 2008). “Tex. Water Code Ann. § 58.391 . The Commission points out that the plain language of the water code thus allows Engelman, if it so chooses, to pay a lawful judgment entered against it by borrowing money under the water code.”
Engelman Irrigation Dist. v. Texas Comm'n on Env't Quality & Shields Bros., Inc. (Tex. App. 2008). “Tex. Water Code Ann. § 58.391 . The Commission points out that the plain language of the water code thus allows Engelman, if it so chooses, to pay a lawful judgment entered against it by borrowing money under the water code.”
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