Sec. 8237.151. ELECTIONS REGARDING TAXES OR BONDS. (a) The district may issue, without an election, bonds and other obligations secured by revenue or contract payments from a source other than ad valorem taxation.
(b) The district must hold an election in the manner provided by Chapters 49 and 54, Water Code, to obtain voter approval before the district may impose an ad valorem tax or issue bonds payable from ad valorem taxes.
(c) The district may not issue bonds payable from ad valorem taxes to finance a road project unless the issuance is approved by a vote of a two-thirds majority of district voters voting at an election held for that purpose.
Added by Acts 2007, 80th Leg., R.S., Ch. 579 (S.B. 1955), Sec. 1, eff. June 16, 2007.
Section: Previous 8237.002 8237.003 8237.004 8237.005 8237.006 8237.051 8237.052 8237.101 8237.102 8237.103 8237.104 8237.151 8237.152 8237.201 8237.202 NextLast modified: September 28, 2016