Texas Special District Local Laws Code § 3891.158 Elections Regarding Taxes And Bonds

Sec. 3891.158. ELECTIONS REGARDING TAXES AND BONDS. (a) The district may issue, without an election, bonds, notes, 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. 1102 (H.B. 4829), Sec. 1, eff. June 19, 2009.

Section: Previous  3891.101  3891.102  3891.103  3891.104  3891.105  3891.106  3891.107  3891.108  3891.151  3891.152  3891.153  3891.154  3891.155  3891.156  3891.157

Last modified: September 28, 2016