Sec. 3822.157. BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations payable wholly or partly from ad valorem taxes, assessments, impact fees, revenue, grants, or other money of the district, or any combination of those sources of money, to pay for any authorized purpose of the district.
(b) In exercising the district's power to borrow, the district may issue a bond or other obligation in the form of a bond, note, certificate of participation or other instrument evidencing a proportionate interest in payments to be made by the district, or other type of obligation.
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.03, eff. April 1, 2007.Section: Previous 3822.103 3822.104 3822.105 3822.106 3822.107 3822.108 3822.151 3822.152 3822.153 3822.154 3822.155 3822.156 3822.157 3822.158 3822.159 Next
Last modified: September 28, 2016