Sec. 9021.201. 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 a project under Section 9021.101 or 9021.102.
(b) The district may not issue bonds or other obligations to finance projects authorized by Section 9021.102 unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 9021.102 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. 946 (H.B. 3991), Sec. 1, eff. September 1, 2007.
Added by Acts 2007, 80th Leg., R.S., Ch. 1347 (S.B. 2002), Sec. 1, eff. September 1, 2007.
Section: Previous 9021.001 9021.002 9021.003 9021.004 9021.051 9021.101 9021.102 9021.103 9021.104 9021.105 9021.151Last modified: September 28, 2016