Sec. 8264.201. 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 8264.101 or 8264.103.
(b) The district may not issue bonds or other obligations to finance projects authorized by Section 8264.103 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 8264.103 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. 2.01, eff. September 1, 2007.
Section: Previous 8264.003 8264.004 8264.021 8264.022 8264.023 8264.024 8264.025 8264.051 8264.101 8264.102 8264.103 8264.104 8264.105 8264.106 8264.151Last modified: September 28, 2016