Sec. 8337.151. ELECTIONS REGARDING TAXES OR BONDS. (a) The district may issue, without an election, bonds and other obligations secured by:
(1) revenue other than ad valorem taxes; or
(2) contract payments described by Section 8337.153.
(b) The district must hold an election in the manner provided by Chapters 49 and 54, Water Code, to obtain voter approval before the district may impose an ad valorem tax or issue bonds payable from ad valorem taxes.
(c) The district may not issue bonds payable from ad valorem taxes to finance a road project 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.
Added by Acts 2009, 81st Leg., R.S., Ch. 499 (S.B. 880), Sec. 1, eff. June 19, 2009.
Section: Previous 8337.003 8337.004 8337.005 8337.051 8337.052 8337.101 8337.102 8337.103 8337.104 8337.105 8337.151 8337.152 8337.153 8337.201 8337.202 NextLast modified: September 28, 2016