Sec. 8301.201. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations payable wholly or partly from ad valorem taxes, impact fees, revenue, grants, or other district money, or any combination of those sources, to pay for any authorized district purpose.
(b) The district may not issue bonds to finance projects authorized by Section 8301.103 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 8301.103 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. 1430 (S.B. 3), Sec. 10.01, eff. June 16, 2007.
Renumbered from Special District Local Laws Code, Section 8269.201 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(84), eff. September 1, 2009.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.002(29), eff. September 1, 2009.
Section: Previous 8301.021 8301.022 8301.023 8301.024 8301.025 8301.026 8301.051 8301.052 8301.101 8301.102 8301.103 8301.104 8301.151 8301.152 8301.201Last modified: September 28, 2016