Texas Education Code - Section 45.110. Authorized But Unissued Bonds
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§ 45.110. AUTHORIZED BUT UNISSUED BONDS. (a) This
section applies to any independent school district that has
previously voted or authorized school bonds for a specific purpose
or purposes and the purpose or purposes have been accomplished by
other means or have been abandoned and all or a portion of the bonds
authorized remain unissued.
(b) The board of trustees of the district may, on its own
motion, order an election to submit to the qualified voters of the
district the proposition of whether or not the authorized but
unissued bonds may be issued, sold, and delivered for other and
different purposes specified in the election order and the election
notice. The election shall be ordered, held, and conducted in the
same form and manner as that at which the bonds were originally
authorized.
(c) If a majority of those voting at the election vote in
favor of the sale and delivery of the unissued bonds and the use of
the proceeds of the bonds for the purpose or purposes specified in
the election order and the election notice, the board of trustees
may issue, sell, and deliver the bonds and use the proceeds of the
bonds for the purpose or purposes authorized at the election.
Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. May 30, 1995.
Section: 45.103 45.104 45.105 45.106 45.107 45.108 45.109 45.110 45.111 45.112 45.151 45.152 45.153 45.154 45.155
Last modified: August 10, 2007
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