Sec. 8262.005. EXPANSION OF DISTRICT. (a) If land is annexed by the district under Section 49.301, Water Code, the board may require the petitioners to:
(1) assume the petitioners' pro rata share of the voted but unissued bonds of the district; and
(2) authorize the board to impose a tax on the petitioners' property to pay for the bonds after the bonds have been issued.
(b) If land is annexed by the district under Section 49.302, Water Code, the board may submit to the voters of the area to be annexed a proposition on the question of the assumption by the area to be annexed of its part of the voted but not yet issued or sold tax or tax-revenue bonds of the district and the imposition of an ad valorem tax on taxable property in the area to be annexed along with a tax in the rest of the district for the payment of the bonds.
(c) If the petitioners consent or if the election results favorably, the district may issue its voted but unissued tax or tax-revenue bonds regardless of changes to district boundaries since the original voting or authorization of the bonds.
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.04, eff. April 1, 2011.
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