Sec. 9016.151. 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 9016.153.
(b) The district must hold an election in the manner provided by Chapters 49 and 51, 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 2011, 82nd Leg., R.S., Ch. 1043 (H.B. 3111), Sec. 1, eff. June 17, 2011.
Section: Previous 9016.104 9016.105 9016.106 9016.107 9016.108 9016.109 9016.110 9016.111 9016.112 9016.151 9016.152 9016.153 9016.201 9016.202 9016.203 NextLast modified: September 28, 2016