Texas Special District Local Laws Code - Section 1003.203. General Obligation Bond Election
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Texas Lawyer > Special District Local Laws Code > Texas Special District Local Laws Code - Section 1003.203. General Obligation Bond Election
§ 1003.203. GENERAL OBLIGATION BOND ELECTION. (a) The
district may issue general obligation bonds only if the bonds are
authorized by a majority of the voters voting at an election held
for that purpose.
(b) The board may call an election on its own motion and must
specify:
(1) the place or places where the election will be
held;
(2) the presiding election officers;
(3) the purpose for which the bonds are to be issued;
(4) the amount of the bonds;
(5) the maximum interest rate of the bonds; and
(6) the maximum maturity of the bonds, which may not
exceed 40 years from the date of issuance.
(c) Notice of a bond election shall be given by publishing a
substantial copy of the order calling the election in a newspaper of
general circulation in the district once a week for two consecutive
weeks before the date of the election. The first publication must
occur not later than the 21st day before the date set for the
election.
(d) The district shall pay the costs of the election.
Acts 2003, 78th Leg., ch. 1277, § 1, eff. April 1, 2005.
Section: 1003.110 1003.151 1003.152 1003.153 1003.154 1003.201 1003.202 1003.203 1003.204 1003.205 1003.251 1003.252 1003.253 1004.001 1004.002
Last modified: August 10, 2007
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