Texas Special District Local Laws Code § 9031.201 Authority To Issue Bonds And Other Obligations

Sec. 9031.201. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations as provided by Chapters 49, 51, and 57, Water Code, and to finance the construction, maintenance, or operation of projects under Sections 9031.101, 9031.102, and 9031.104.

(b) The district may not issue bonds to finance projects authorized by Section 9031.102 unless the issuance is approved by a vote of a two-thirds majority of district voters voting at an election called for that purpose.

(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 9031.102 may not exceed one-fourth of the assessed value of the real property in the district.

Added by Acts 2009, 81st Leg., R.S., Ch. 1143 (H.B. 2668), Sec. 1, eff. September 1, 2009.

Section: Previous  9031.021  9031.022  9031.023  9031.024  9031.025  9031.026  9031.051  9031.052  9031.101  9031.102  9031.103  9031.104  9031.105  9031.106  9031.151

Last modified: September 28, 2016