Sec. 7952.151. 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 7952.153.
(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. 498 (S.B. 2039), Sec. 1, eff. June 16, 2015.
Section: Previous 7952.004 7952.005 7952.006 7952.051 7952.052 7952.101 7952.102 7952.103 7952.104 7952.105 7952.151 7952.152 7952.153 7952.201 7952.202 NextLast modified: September 28, 2016