Sec. 9055.254. ELECTION FOR BONDS PAYABLE FROM AD VALOREM TAXES. (a) Bonds, other than refunding bonds, payable wholly or partly from ad valorem taxes may not be issued unless authorized by a district election held for that purpose at which a majority of the votes cast favor the bond issuance.
(b) The board may order an election under this section without a petition. The order must specify:
(1) the time and places at which the election will be held;
(2) the purpose for which the bonds will be issued;
(3) the maximum amount of the bonds;
(4) the maximum maturity of the bonds;
(5) the form of the ballot; and
(6) the presiding judge for each voting place.
(c) Notice of the election must be given by publishing a substantial copy of the order calling the election in a newspaper published in the district for two consecutive weeks. The first publication must be not later than the 21st day before the date of the election.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
Text of section effective on April 01, 2017
Last modified: September 28, 2016