Sec. 9002.201. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations as provided by Chapters 49 and 51, Water Code, to finance the construction, maintenance, or operation of projects under Section 9002.101.
(b) The district may not issue bonds under Subsection (a) unless the issuance is approved by a vote of a two-thirds majority of the voters of the district voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 9002.101 may not exceed one-fourth of the assessed value of the real property in the district.
(d) Sections 49.181 and 49.182, Water Code, do not apply to a project undertaken by the district under Section 9002.101 or to bonds issued by the district to finance the project.
Added by Acts 2005, 79th Leg., Ch. 1361 (S.B. 1894), Sec. 1.01, eff. June 18, 2005.
Section: Previous 9002.001 9002.002 9002.003 9002.004 9002.005 9002.051 9002.052 9002.101 9002.102 9002.103 9002.104 9002.105 9002.151 9002.152 9002.201Last modified: September 28, 2016