Sec. 8242.151. ELECTIONS REGARDING TAXES OR BONDS. (a) The district may issue, without an election, bonds and other obligations secured by revenues or contract payments from any lawful sources 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 operation and maintenance tax or issue bonds payable from ad valorem taxes.
Added by Acts 2007, 80th Leg., R.S., Ch. 540 (S.B. 1070), Sec. 1, eff. June 16, 2007.
Section: Previous 8242.001 8242.002 8242.003 8242.004 8242.005 8242.051 8242.052 8242.053 8242.101 8242.102 8242.103 8242.151 8242.152 8242.201 NextLast modified: September 28, 2016