Tex. Spec. Dist. Local Laws Code Section 3876.210
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.

(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. 1083 (H.B. 4775), Sec. 1, eff. June 19, 2009.

Source: Section 3876.210 — Authority to Borrow Money and to Issue Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3876.­htm#3876.­210 (accessed Jun. 5, 2024).

3876.001
Definitions 3876.002
Nature of District 3876.003
Purpose 3876.004
Findings of Benefit and Public Purpose 3876.005
Initial District Territory 3876.006
Eligibility for Inclusion in Special Zones 3876.007
Applicability of Municipal Management Districts Law 3876.008
Liberal Construction of Chapter 3876.051
Governing Body 3876.052
Appointment of Directors 3876.054
Nonvoting Directors 3876.055
Quorum 3876.056
Compensation 3876.101
Development Corporation Powers 3876.102
Nonprofit Corporation 3876.103
Agreements 3876.104
Authority to Contract for Law Enforcement 3876.105
Membership in Charitable Organizations 3876.106
Economic Development Programs 3876.107
No Eminent Domain 3876.108
Annexation or Exclusion of Land 3876.151
Parking Facilities Authorized 3876.152
Rules 3876.153
Financing of Parking Facilities 3876.201
Disbursements and Transfers of Money 3876.202
Money Used for Improvements or Services 3876.203
Petition Required for Financing Services and Improvements with Assessments 3876.204
Method of Notice for Hearing 3876.205
Assessments 3876.206
Utility Property Exempt from Impact Fees and Assessments 3876.207
Residential Property 3876.208
Operation and Maintenance Tax 3876.209
Contract Taxes 3876.210
Authority to Borrow Money and to Issue Bonds 3876.211
Taxes for Bonds 3876.212
Elections Regarding Taxes and Bonds 3876.213
City Not Required to Pay District Obligations 3876.214
Competitive Bidding 3876.215
Tax and Assessment Abatements 3876.251
Authority to Establish Defined Areas or Designated Property 3876.252
Procedure for Election 3876.253
Declaring Result and Issuing Order 3876.254
Taxes for Improvements and Facilities in Defined Areas or Designated Property 3876.255
Issuance of Bonds and Imposition of Taxes for Defined Area or Designated Property
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Accessed:
Jun. 5, 2024

§ 3876.210’s source at texas​.gov