Texas Special District Local Laws Code § 3870.151 Elections Regarding Taxes Or Bonds

Sec. 3870.151. 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 3870.153.

(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 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. 245 (S.B. 2470), Sec. 1, eff. September 1, 2009.

Section: Previous  3870.102  3870.103  3870.104  3870.105  3870.106  3870.107  3870.108  3870.151  3870.152  3870.153  3870.154  3870.155  3870.156  3870.157  3870.201  Next

Last modified: September 28, 2016