Sec. 8464.151. 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 8464.153.
(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. 442 (S.B. 706), Sec. 1, eff. June 14, 2013.
Section: Previous 8464.004 8464.005 8464.006 8464.051 8464.052 8464.101 8464.102 8464.103 8464.104 8464.105 8464.151 8464.152 8464.153 8464.201 8464.202 NextLast modified: September 28, 2016