Sec. 8190.201. 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, and to finance the construction, maintenance, or operation of projects under Section 8190.102.
(b) The district may issue bonds or other obligations payable wholly or partly from ad valorem taxes, impact fees, revenue, grants, or other district money.
(c) The district may not issue bonds or other obligations secured wholly or partly by ad valorem taxation to finance projects authorized by Section 8190.102 unless the issuance is approved by a vote of a two-thirds majority of district voters voting at an election called for that purpose.
(d) Bonds or other obligations issued or incurred to finance projects authorized by Section 8190.102 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. 793 (H.B. 4061), Sec. 1, eff. June 15, 2007.
Section: Previous 8190.003 8190.004 8190.005 8190.021 8190.022 8190.023 8190.024 8190.025 8190.051 8190.101 8190.102 8190.103 8190.151 8190.152 8190.153Last modified: September 28, 2016