Sec. 11004.151. ELECTIONS REGARDING TAXES OR BONDS. (a) The district may issue, without an election, bonds and other obligations secured by:
(1) revenue other than ad valorem taxes; or
(2) contract payments described by Section 11004.153.
(b) The district must hold an election in the manner provided by Chapters 49 and 54, Water Code, to obtain voter approval before the district may impose an ad valorem tax, impose a sales or use tax, or issue bonds payable from ad valorem taxes.
(c) The district may not issue bonds payable from ad valorem taxes to finance a road project unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election held for that purpose.
Added by Acts 2009, 81st Leg., R.S., Ch. 1098 (H.B. 4817), Sec. 1, eff. June 19, 2009.
Section: Previous 11004.105 11004.106 11004.107 11004.108 11004.109 11004.110 11004.111 11004.112 11004.113 11004.114 11004.151 11004.152 11004.153 11004.201 11004.202 NextLast modified: September 28, 2016