Sec. 8256.201. 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 8256.101 or 8256.102.
(b) The district may not issue bonds to finance projects authorized by Section 8256.102 unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 8256.102 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. 1129 (H.B. 4069), Sec. 6.01, eff. September 1, 2007.
Section: Previous 8256.001 8256.002 8256.003 8256.004 8256.005 8256.006 8256.051 8256.052 8256.054 8256.055 8256.101 8256.102 8256.103 8256.151Last modified: September 28, 2016