Sec. 8252.201. 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 projects under Sections 8252.101 and 8252.102.
(b) The district may not issue bonds to finance projects authorized by Section 8252.102 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 8252.102 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. 943 (H.B. 3979), Sec. 1, eff. September 1, 2007.
Section: Previous 8252.004 8252.021 8252.022 8252.023 8252.024 8252.025 8252.026 8252.051 8252.052 8252.101 8252.102 8252.103 8252.104 8252.151 8252.152Last modified: September 28, 2016