Sec. 8126.201. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations as provided by Chapters 49 and 54, Water Code, to finance the construction, maintenance, or operation of projects under Sections 8126.101 and 8126.102.
(b) The district may not issue bonds to finance projects under Section 8126.102 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 8126.102 may not exceed one-fourth of the assessed value of the real property in the district.
(d) Sections 49.181, 49.182, and 50.107, Water Code, do not apply to a project undertaken by the district under Section 8126.102 or to bonds issued by the district to finance the project.
Added by Acts 2005, 79th Leg., Ch. 774 (H.B. 3534), Sec. 1, eff. September 1, 2005.
Section: Previous 8126.004 8126.005 8126.051 8126.052 8126.101 8126.102 8126.103 8126.104 8126.105 8126.106 8126.107 8126.151 8126.152 8126.153 8126.154Last modified: September 28, 2016