Sec. 8299.201. 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 projects under Sections 8299.101 and 8299.102.
(b) The district may not issue bonds to finance projects authorized by Section 8299.102 unless the issuance is approved by a vote of a two-thirds majority of the voters of the district voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 8299.102 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. 1314 (S.B. 1069), Sec. 1, eff. September 1, 2007.
Renumbered from Special District Local Laws Code, Section 8208.201 and amended by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.002(20).
Section: Previous 8299.001 8299.002 8299.003 8299.004 8299.051 8299.052 8299.101 8299.102 8299.103 8299.151Last modified: September 28, 2016