Sec. 3914.204. AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may borrow money on terms determined by the board. Section 375.205, Local Government Code, does not apply to a loan, line of credit, or other borrowing from a bank or financial institution secured by revenue other than ad valorem taxes.
(b) 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, or any combination of those sources of money, to pay for any authorized district purpose.
(c) The limitation on the outstanding principal amount of bonds, notes, and other obligations provided by Section 49.4645, Water Code, does not apply to the district.
Added by Acts 2013, 83rd Leg., R.S., Ch. 814 (S.B. 1821), Sec. 1, eff. June 14, 2013.
Section: Previous 3914.107 3914.108 3914.109 3914.110 3914.111 3914.112 3914.151 3914.152 3914.153 3914.154 3914.155 3914.201 3914.202 3914.203 3914.204Last modified: September 28, 2016