Sec. 8498.151. 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 8498.153.
(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 2015, 84th Leg., R.S., Ch. 650 (H.B. 1074), Sec. 1, eff. September 1, 2015.
Section: Previous 8498.004 8498.005 8498.006 8498.051 8498.052 8498.101 8498.102 8498.103 8498.104 8498.105 8498.151 8498.152 8498.153 8498.201 8498.202 NextLast modified: September 28, 2016