Tex. Spec. Dist. Local Laws Code Section 3855.208
Authority to Borrow Money and to Issue Bonds

(a)

The district may borrow money on terms and conditions as determined by the board. Section 375.205 (Approval by Attorney General; Registration), Local Government Code, does not apply to a loan, line of credit, or other borrowing from a bank or financial institution.

(b)

The district may issue by competitive bid or negotiated sale bonds, notes, or other obligations payable wholly or partly from sales and use 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, and 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 2009, 81st Leg., R.S., Ch. 1092 (H.B. 4798), Sec. 1, eff. June 19, 2009.

Source: Section 3855.208 — Authority to Borrow Money and to Issue Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3855.­htm#3855.­208 (accessed Jun. 5, 2024).

3855.001
Definitions 3855.002
Nature of District 3855.003
Purpose 3855.004
Findings of Benefit and Public Purpose 3855.005
Initial District Territory 3855.006
Eligibility for Inclusion in Special Zones 3855.007
Applicability of Municipal Management Districts Law 3855.008
Liberal Construction of Chapter 3855.051
Governing Body 3855.052
Appointment of Directors 3855.054
Nonvoting Directors 3855.055
Quorum 3855.101
Additional Powers 3855.102
Nonprofit Corporation 3855.103
Agreements 3855.104
Authority to Contract for Law Enforcement 3855.105
Approval by City 3855.106
Membership in Charitable Organizations 3855.107
Economic Development Programs 3855.108
No Eminent Domain 3855.109
Annexation or Exclusion of Land 3855.151
Public Transit System 3855.152
Parking Facilities Authorized 3855.153
Rules 3855.154
Financing of Public Transit System or Parking Facilities 3855.201
Disbursements and Transfers of Money 3855.202
Money Used for Improvements or Services 3855.203
Petition Required for Financing Services and Improvements with Assessments 3855.204
Method of Notice for Hearing 3855.205
Assessments 3855.206
Utility Property Exempt from Impact Fees and Assessments 3855.207
No Ad Valorem Taxes 3855.208
Authority to Borrow Money and to Issue Bonds 3855.209
City Not Required to Pay District Obligations 3855.210
Competitive Bidding 3855.211
Assessment Abatements 3855.212
Assessments in Other Districts 3855.213
Authority to Establish Defined Areas or Designated Property 3855.251
Meanings of Words and Phrases 3855.252
Applicability of Certain Tax Code Provisions 3855.253
Authorization 3855.254
Abolishing Sales and Use Tax 3855.255
Sales and Use Tax Rate
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3855.208’s source at texas​.gov