Sec. 8214.201. 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 8214.101 or 8214.102.
(b) The district may not issue bonds or other obligations to finance projects authorized by Section 8214.102 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 8214.102 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. 782 (H.B. 3982), Sec. 1, eff. September 1, 2007.
Section: Previous 8214.002 8214.003 8214.004 8214.021 8214.022 8214.023 8214.024 8214.025 8214.051 8214.101 8214.102 8214.103 8214.104 8214.151 8214.152Last modified: September 28, 2016