Sec. 9022.201. 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 9022.101 or 9022.102.
(b) The district may not issue bonds authorized by Section 9022.102 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 9022.102 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. 989 (S.B. 1245), Sec. 1, eff. September 1, 2007.
Section: Previous 9022.002 9022.003 9022.004 9022.021 9022.022 9022.023 9022.024 9022.051 9022.052 9022.101 9022.102 9022.103 9022.104 9022.105 9022.151Last modified: September 28, 2016