Texas Special District Local Laws Code § 3834.156 Bonds And Other Obligations

Sec. 3834.156. BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations payable wholly or partly from 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) The district may borrow money according to terms and conditions determined by the board. Section 375.205, Local Government Code, does not apply to a loan, line of credit, or other borrowing from a bank or financial institution secured by revenue other than ad valorem taxes.

Added by Acts 2005, 79th Leg., Ch. 861 (S.B. 993), Sec. 1, eff. June 17, 2005.

Amended by:

Acts 2009, 81st Leg., R.S., Ch. 1082 (H.B. 4771), Sec. 2, eff. June 19, 2009.

Section: Previous  3834.111  3834.112  3834.151  3834.152  3834.153  3834.154  3834.155  3834.156  3834.157  3834.158  3834.159  3834.201  3834.251  3834.252  3834.253  Next

Last modified: September 28, 2016