Texas Special District Local Laws Code § 9009.201 Authority To Issue Bonds And Other Obligations

Sec. 9009.201. 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 Sections 9009.101 and 9009.102.

(b) The district may not issue bonds to finance projects authorized by Section 9009.102 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 9009.102 may not exceed one-fourth of the assessed value of the real property in the district.

Added by Acts 2007, 80th Leg., R.S., Ch. 541 (S.B. 1071), Sec. 1, eff. September 1, 2007.

Section: Previous  9009.004  9009.021  9009.022  9009.023  9009.024  9009.025  9009.026  9009.051  9009.052  9009.101  9009.102  9009.103  9009.104  9009.105  9009.151

Last modified: September 28, 2016