Sec. 3865.151. ELECTIONS REGARDING TAXES OR BONDS. (a) The district may issue, without an election, bonds and other obligations secured by revenue or contract payments from any source other than ad valorem taxation.
(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 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. 142 (S.B. 1295), Sec. 1, eff. May 23, 2009.
Section: Previous 3865.052 3865.053 3865.101 3865.102 3865.103 3865.104 3865.105 3865.106 3865.151 3865.152 3865.153 3865.154 3865.155 3865.201 3865.202 NextLast modified: September 28, 2016