Sec. 8254.201. 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 a project under Section 8254.101 or 8254.103.
(b) The district may not issue bonds or other obligations to finance projects authorized by Section 8254.103 unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election held for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 8254.103 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. 1139 (H.B. 4099), Sec. 1, eff. September 1, 2007.
Section: Previous 8254.004 8254.021 8254.022 8254.023 8254.024 8254.025 8254.051 8254.101 8254.102 8254.103 8254.104 8254.105 8254.106 8254.107 8254.151Last modified: September 28, 2016