Sec. 8258.201. 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 8258.101 or 8258.103.
(b) The district may not issue bonds or other obligations to finance projects authorized by Section 8258.103 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 8258.103 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. 1129 (H.B. 4069), Sec. 7.01, eff. September 1, 2007.
Section: Previous 8258.003 8258.004 8258.021 8258.022 8258.023 8258.024 8258.025 8258.051 8258.101 8258.102 8258.103 8258.104 8258.105 8258.106 8258.151Last modified: September 28, 2016