Texas Transportation Code - Section 54.103. Election
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Texas Laws > Transportation Code > Texas Transportation Code - Section 54.103. Election
§ 54.103. ELECTION. (a) Obligations payable from ad
valorem taxes, other than refunding obligations, may be issued only
if authorized by a majority of the qualified voters voting at an
election held under Chapter 1251, Government Code.
(b) Notwithstanding any law or charter provision to the
contrary, an election is not required to authorize the issuance
under this chapter of obligations payable solely from revenue if:
(1) the obligations are not:
(A) a debt of the municipality; or
(B) a pledge of the faith and credit of the
municipality; and
(2) the owner or holder of an obligation is not
entitled to demand payment from money raised by taxation.
Added by Acts 1999, 76th Leg., ch. 227, § 20, eff. Sept. 1, 1999.
Section: 54.051 54.052 54.053 54.054 54.055 54.101 54.102 54.103 54.104 54.105 54.106 54.107 54.108 54.109 54.110
Last modified: August 11, 2007
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