Sec. 8125.201. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS; TAX. (a) The district may issue bonds or other obligations as provided by Chapters 49, 53, and 54, Water Code, and to finance:
(1) the construction, maintenance, or operation of projects under Section 8125.102 or 8125.104; or
(2) the district's contractual obligations under Section 8125.106.
(b) The district may not issue bonds or other obligations secured in whole or in part by ad valorem taxation to finance projects authorized by Section 8125.102 unless the issuance is approved by a vote of a two-thirds majority of the voters of the district voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 8125.102 may not exceed one-fourth of the assessed value of the real property in the district.
(d) Sections 49.181 and 49.182, Water Code, do not apply to a project undertaken by the district under Section 8125.102 or to bonds issued by the district to finance the project.
Added by Acts 2005, 79th Leg., Ch. 1167 (H.B. 3490), Sec. 1, eff. June 18, 2005.
Section: Previous 8125.002 8125.003 8125.004 8125.051 8125.052 8125.053 8125.101 8125.102 8125.103 8125.104 8125.105 8125.106 8125.151 8125.152 8125.153Last modified: September 28, 2016