Tex. Spec. Dist. Local Laws Code Section 3872.159
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 secured by revenue other than ad valorem taxes.

(b)

The district 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.
Added by Acts 2009, 81st Leg., R.S., Ch. 873 (S.B. 2511), Sec. 1, eff. June 19, 2009.

Source: Section 3872.159 — Authority to Borrow Money and to Issue Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3872.­htm#3872.­159 (accessed Jun. 5, 2024).

3872.001
Definitions 3872.002
Creation and Nature of District 3872.003
Confirmation and Directors’ Election Required 3872.004
Consent of Municipality Required 3872.005
Purpose 3872.006
Findings of Benefit and Public Purpose 3872.007
Initial District Territory 3872.008
Eligibility for Inclusion in Special Zones 3872.009
Applicability of Municipal Management Districts Law 3872.010
Liberal Construction of Chapter 3872.011
Conflicts of Law 3872.051
Governing Body 3872.052
Temporary Directors 3872.053
Compensation 3872.054
Disqualification of Directors 3872.101
General Powers 3872.102
Recreational Facilities 3872.103
Evaluation of Feasibility 3872.104
Authority for Road Projects 3872.106
Development Corporation Powers 3872.107
Nonprofit Corporation 3872.108
Agreements 3872.109
Law Enforcement Services 3872.110
Membership in Charitable Organizations 3872.111
Economic Development Programs 3872.112
Strategic Partnership Agreement 3872.113
Limited Eminent Domain 3872.114
Annexation or Exclusion of Land 3872.115
Firefighting and Emergency Medical Services 3872.151
Disbursements and Transfers of Money 3872.152
Money Used for Improvements or Services 3872.153
Petition Required for Financing Services and Improvements with Assessments 3872.154
Method of Notice for Hearing 3872.155
Assessments 3872.156
Utility Property Exempt from Impact Fees and Assessments 3872.157
Operation and Maintenance Tax 3872.158
Contract Taxes 3872.159
Authority to Borrow Money and to Issue Bonds 3872.160
Taxes for Bonds 3872.161
Elections Regarding Taxes and Bonds 3872.162
Competitive Bidding 3872.163
Tax and Assessment Abatements 3872.201
Authority to Establish Defined Areas or Designated Property 3872.202
Procedure for Election 3872.203
Declaring Results and Issuing Order 3872.204
Taxes for Improvements and Facilities in Defined Areas or Designated Property 3872.205
Issuance of Bonds for Defined Area or Designated Property 3872.251
Municipal Annexation of the District 3872.252
Effect on Municipal Powers 3872.1051
Conveyance and Approval of Road Project
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3872.159’s source at texas​.gov