Sec. 7957.151. 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 7957.153.
(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. 913 (S.B. 2074), Sec. 1, eff. June 18, 2015.
Section: Previous 7957.005 7957.006 7957.051 7957.052 7957.101 7957.102 7957.103 7957.104 7957.105 7957.106 7957.151 7957.152 7957.153 7957.201 7957.202 NextLast modified: September 28, 2016