Sec. 8480.151. 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 8480.153.
(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. 497 (S.B. 1843), Sec. 1, eff. September 1, 2013.
Section: Previous 8480.004 8480.005 8480.006 8480.051 8480.052 8480.101 8480.102 8480.103 8480.104 8480.105 8480.151 8480.152 8480.153 8480.201 8480.202 NextLast modified: September 28, 2016