Sec. 8266.201. 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 8266.101 or 8266.103.
(b) The district may not issue bonds or other obligations to finance projects authorized by Section 8266.103 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 8266.103 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. 4.01, eff. September 1, 2007.
Section: Previous 8266.003 8266.004 8266.021 8266.022 8266.023 8266.024 8266.025 8266.051 8266.101 8266.102 8266.103 8266.104 8266.105 8266.106 8266.151Last modified: September 28, 2016