Sec. 8238.201. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations payable wholly or partly from ad valorem taxes, impact fees, revenue, grants, or other district money, or any combination of those sources, to pay for any authorized district purpose.
(b) The district may not issue bonds to finance projects authorized by Section 8238.102 unless the issuance is approved by a vote of a two-thirds majority of the voters of the district voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 8238.102 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. 966 (H.B. 4098), Sec. 1, eff. June 15, 2007.
Section: Previous 8238.054 8238.101 8238.102 8238.103 8238.104 8238.131 8238.132 8238.133 8238.134 8238.135 8238.136 8238.137 8238.151 8238.152 8238.201Last modified: September 28, 2016