Sec. 8223.201. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations as provided by Chapters 49 and 54, Water Code, to finance the construction, maintenance, or operation of projects under Sections 8223.101 and 8223.102.
(b) The district may not issue bonds to finance projects authorized by Section 8223.102 unless the issuance is approved by a vote of a two-thirds majority of the voters of the district voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 8223.102 may not exceed one-fourth of the assessed value of the real property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 943 (H.B. 3979), Sec. 1, eff. September 1, 2007.
Section: Previous 8223.004 8223.021 8223.022 8223.023 8223.024 8223.025 8223.026 8223.051 8223.052 8223.101 8223.102 8223.103 8223.104 8223.151 8223.152Last modified: September 28, 2016