Sec. 8175.201. 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 a project under Section 8175.101 or 8175.102.
(b) The district may not issue bonds or other obligations to finance projects authorized by Section 8175.102 unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 8175.102 may not exceed one-fourth of the assessed value of the real property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 117 (S.B. 1041), Sec. 1, eff. September 1, 2007.
Section: Previous 8175.002 8175.003 8175.004 8175.021 8175.022 8175.023 8175.024 8175.025 8175.026 8175.051 8175.101 8175.102 8175.103 8175.104 8175.151Last modified: September 28, 2016