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 9031.151Last modified: September 28, 2016