Tex. Spec. Dist. Local Laws Code Section 3792.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations

(a)

The district may borrow money on terms determined by the board.

(b)

The district, by competitive bid or negotiated sale, may issue bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, assessments, impact fees, revenue, contract payments, grants, or other district money, or any combination of those sources of money, to pay for any authorized district purpose.

(c)

The limitation on the outstanding principal amount of bonds, notes, or other obligations provided by Section 49.4645 (District in Certain Counties: Bonds for Recreational Facilities), Water Code, does not apply to the district.
Added by Acts 2019, 86th Leg., R.S., Ch. 1005 (H.B. 4635), Sec. 1, eff. June 14, 2019.

Source: Section 3792.0503 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3792.­htm#3792.­0503 (accessed Jun. 5, 2024).

3792.0101
Definitions 3792.0102
Creation and Nature of District 3792.0103
Purpose 3792.0104
Findings of Benefit and Public Purpose 3792.0105
Initial District Territory 3792.0106
Eligibility for Inclusion in Special Zones 3792.0107
Applicability of Municipal Management Districts Law 3792.0108
Liberal Construction of Chapter 3792.0109
Conflicts of Law 3792.0201
Governing Body 3792.0202
Compensation 3792.0203
Temporary Directors 3792.0204
Disqualification of Directors 3792.0301
General Powers and Duties 3792.0302
Improvement Projects and Services 3792.0303
Recreational Facilities 3792.0304
Authority for Road Projects 3792.0305
Conveyance and Approval of Road Project 3792.0306
Rail Facilities 3792.0307
Nonprofit Corporation 3792.0308
Law Enforcement Services 3792.0309
Membership in Charitable Organizations 3792.0310
Economic Development Programs 3792.0311
Strategic Partnership Agreement 3792.0312
Regional Participation Agreement 3792.0313
Parking Facilities 3792.0314
Adding or Excluding Land 3792.0315
Disbursements and Transfers of Money 3792.0316
Audit Exemption 3792.0317
No Eminent Domain Power 3792.0401
Petition Required for Financing Services and Improvements with Assessments 3792.0402
Method of Notice for Hearing 3792.0403
Assessments 3792.0501
Tax Election Required 3792.0502
Operation and Maintenance Tax 3792.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations 3792.0504
Bonds Secured by Revenue or Contract Payments 3792.0505
Bonds Secured by Ad Valorem Taxes 3792.0506
Consent of Municipality Required 3792.0601
Applicability of Certain Tax Code Provisions 3792.0602
Election 3792.0603
Sales and Use Tax Rate 3792.0604
Tax After Municipal Annexation 3792.0605
Notification of Rate Change 3792.0606
Use of Revenue 3792.0607
Abolition of Tax 3792.0901
Dissolution
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3792.0503’s source at texas​.gov