Sec. 9601.201. AUTHORITY TO ISSUE BONDS. (a) The district by resolution may authorize the issuance of bonds payable from and secured by revenue or any other available source of district money to carry out a power conferred by this chapter. Bonds issued by the district are not a direct obligation of any member.
(b) The bonds must be issued in the manner and under the terms of the proceedings authorizing the issuance of the bonds.
(c) Bonds may be issued by the district without an election.
(d) Sections 49.181-49.186, Water Code, do not apply to the district.
Added by Acts 2009, 81st Leg., R.S., Ch. 523 (S.B. 1223), Sec. 1, eff. June 19, 2009.Section: Previous 9601.104 9601.105 9601.106 9601.151 9601.152 9601.153 9601.154 9601.201 9601.202 9601.203 9601.204 9601.205 9601.206 9601.207 9601.208 Next
Last modified: September 28, 2016