Sec. 8428.151. 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 8428.153.
(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 2013, 83rd Leg., R.S., Ch. 822 (S.B. 1847), Sec. 1, eff. June 14, 2013.
Section: Previous 8428.004 8428.005 8428.006 8428.051 8428.052 8428.101 8428.102 8428.103 8428.104 8428.105 8428.151 8428.152 8428.153 8428.201 8428.202 NextLast modified: September 28, 2016