Sec. 8434.201. 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 8434.203.
(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. 623 (S.B. 1838), Sec. 1, eff. June 14, 2013.
Section: Previous 8434.105 8434.106 8434.107 8434.108 8434.151 8434.152 8434.153 8434.154 8434.155 8434.156 8434.201 8434.202 8434.203 8434.251 8434.252 NextLast modified: September 28, 2016