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Texas Education Code - Section 53A.36. Bond Resolution; Notice; Election

Legal Research Home > Texas Lawyer > Education Code > Texas Education Code - Section 53A.36. Bond Resolution; Notice; Election

§ 53A.36. BOND RESOLUTION;  NOTICE;  ELECTION.  (a) 
Before authorizing the issuance of bonds, other than refunding 
bonds, the board shall cause a notice to be issued stating that it 
intends to adopt a resolution authorizing the issuance of the 
bonds, the maximum amount thereof, and the maximum maturity 
thereof.  The notice shall be published once each week for two 
consecutive weeks in a newspaper or newspapers having general 
circulation in the authority.  The first publication shall be at 
least 14 days prior to the day set for adopting the bond resolution.
	(b)  If, prior to the day set for the adoption of the bond 
resolution, there is presented to the secretary or president of the 
board a petition signed by not less than 10 percent of the qualified 
voters residing in the city or cities comprising the authority, who 
own taxable property in the authority and who have duly rendered it 
for taxation to the city in which such property is located or 
situated, requesting an election on the proposition for the 
issuance of the bonds, the bonds shall not be issued unless an 
election is held and a majority vote is in favor of the bonds.  The 
election shall be called and held in accordance with the procedure 
prescribed in Chapter 1251, Government Code, with the board and the 
president and secretary performing the functions there assigned to 
the governing body of the city, the mayor and city secretary, 
respectively.  If no such petition is filed, the bonds may be issued 
without an election.  However, the board may call an election on its 
own motion without the filing of the petition.

Added by Acts 2005, 79th Leg., ch. 641, § 2, eff. Sept. 1, 2005.           

Last modified: August 10, 2007