Sec. 8205.201. 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 8205.101 or 8205.102.
(b) The district may not issue bonds or other obligations to finance projects authorized by Section 8205.102 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 8205.102 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. 518 (S.B. 684), Sec. 1, eff. September 1, 2007.
Section: Previous 8205.003 8205.004 8205.005 8205.021 8205.022 8205.023 8205.024 8205.025 8205.026 8205.051 8205.101 8205.102 8205.103 8205.104 8205.151Last modified: September 28, 2016