Sec. 7932.151. 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 7932.153.
(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 2015, 84th Leg., R.S., Ch. 982 (H.B. 4154), Sec. 3, eff. June 19, 2015.
Section: Previous 7932.004 7932.005 7932.006 7932.051 7932.052 7932.101 7932.102 7932.103 7932.104 7932.105 7932.151 7932.152 7932.153 7932.201 7932.202 NextLast modified: September 28, 2016