Sec. 3858.1521. BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, assessments, impact fees, revenue, contract payments, grants, or other district money for any purpose authorized by this chapter.
(b) Notwithstanding Subsection (a), ad valorem taxes may be pledged only to pay bonds, notes, or other obligations that are issued by the district for purposes authorized under Sections 52 and 52-a, Article III, or Section 59, Article XVI, Texas Constitution.
Added by Acts 2015, 84th Leg., R.S., Ch. 974 (H.B. 2259), Sec. 6, eff. September 1, 2015.
Section: Previous 3858.057 3858.101 3858.102 3858.1025 3858.103 3858.104 3858.105 3858.106 3858.151 3858.1521 3858.1522 3858.153 3858.154 3858.155 3858.156 NextLast modified: September 28, 2016