Sec. 7956.151. 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 7956.153.
(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. 911 (S.B. 2057), Sec. 1.02, eff. September 1, 2015.
Section: Previous 7956.005 7956.006 7956.051 7956.052 7956.101 7956.102 7956.103 7956.104 7956.105 7956.106 7956.151 7956.152 7956.153 7956.201 7956.202 NextLast modified: September 28, 2016