Sec. 8239.201. 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 8239.102 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 8239.102 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. 1138 (H.B. 4097), Sec. 1, eff. June 15, 2007.
Section: Previous 8239.054 8239.101 8239.102 8239.103 8239.104 8239.131 8239.132 8239.133 8239.134 8239.135 8239.136 8239.137 8239.151 8239.152 8239.201Last modified: September 28, 2016