Tex. Spec. Dist. Local Laws Code Section 3877.210
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, 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. 587 (S.B. 2467), Sec. 1, eff. June 19, 2009.

Source: Section 3877.210 — Authority to Borrow Money and to Issue Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3877.­htm#3877.­210 (accessed Jun. 5, 2024).

3877.001
Definitions 3877.002
Nature of District 3877.003
Purpose 3877.004
Findings of Benefit and Public Purpose 3877.005
Initial District Territory 3877.006
Eligibility for Inclusion in Special Zones 3877.007
Applicability of Municipal Management Districts Law 3877.008
Liberal Construction of Chapter 3877.051
Governing Body 3877.052
Temporary Directors 3877.053
Compensation 3877.101
Development Corporation Powers 3877.102
Nonprofit Corporation 3877.103
Agreements 3877.104
Authority to Contract for Law Enforcement 3877.105
Membership in Charitable Organizations 3877.106
Economic Development Programs 3877.107
Strategic Partnership Agreement 3877.108
Limited Eminent Domain 3877.109
Annexation or Exclusion of Land 3877.151
Parking Facilities Authorized 3877.152
Rules 3877.153
Financing of Parking Facilities 3877.201
Disbursements and Transfers of Money 3877.202
Money Used for Improvements or Services 3877.203
Petition Required for Financing Services and Improvements with Assessments 3877.204
Method of Notice for Hearing 3877.205
Assessments 3877.206
Utility Property Exempt from Impact Fees and Assessments 3877.207
Residential Property 3877.208
Operation and Maintenance Tax 3877.209
Contract Taxes 3877.210
Authority to Borrow Money and to Issue Bonds 3877.211
Taxes for Bonds 3877.212
Elections Regarding Taxes and Bonds 3877.213
Competitive Bidding 3877.214
Tax and Assessment Abatements 3877.251
Authority to Establish Defined Areas or Designated Property 3877.252
Procedure for Election 3877.253
Declaring Result and Issuing Order 3877.254
Taxes for Improvements and Facilities in Defined Areas or Designated Property 3877.255
Issuance of Bonds and Levy of Taxes for Defined Area or Designated Property 3877.301
Meanings of Words and Phrases 3877.302
Applicability of Certain Tax Code Provisions 3877.303
Authorization 3877.304
Abolishing Sales and Use Tax 3877.305
Sales and Use Tax Rate 3877.351
Municipal Annexation
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Accessed:
Jun. 5, 2024

§ 3877.210’s source at texas​.gov