Sec. 3886.151. 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 taxes.
(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. 1077 (H.B. 4752), Sec. 1, eff. September 1, 2009.Section: Previous 3886.105 3886.106 3886.107 3886.108 3886.109 3886.110 3886.111 3886.151 3886.152 3886.153 3886.154 3886.201 3886.202 3886.203 3886.204 Next
Last modified: September 28, 2016