Tex. Spec. Dist. Local Laws Code Section 3879.210
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. 872 (S.B. 2510), Sec. 1, eff. June 19, 2009.

Source: Section 3879.210 — Authority to Borrow Money and to Issue Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3879.­htm#3879.­210 (accessed Jun. 5, 2024).

3879.001
Definitions 3879.002
Nature of District 3879.003
Purpose 3879.004
Findings of Benefit and Public Purpose 3879.005
Initial District Territory 3879.006
Eligibility for Inclusion in Special Zones 3879.007
Applicability of Municipal Management Districts Law 3879.008
Liberal Construction of Chapter 3879.051
Governing Body 3879.052
Appointment of Directors 3879.054
Nonvoting Directors 3879.055
Quorum 3879.056
Compensation 3879.101
Development Corporation Powers 3879.102
Nonprofit Corporation 3879.103
Agreements 3879.104
Authority to Contract for Law Enforcement Services 3879.105
Membership in Charitable Organizations 3879.106
Economic Development Programs 3879.107
Strategic Partnership Agreement 3879.108
No Eminent Domain 3879.109
Use of Conduits 3879.110
Annexation or Exclusion of Land 3879.151
Parking Facilities Authorized 3879.152
Rules 3879.153
Financing of Public Parking Facilities 3879.201
Disbursements and Transfers of Money 3879.202
Money Used for Improvements or Services 3879.203
Petition Required for Financing Services and Improvements with Assessments 3879.204
Method of Notice for Hearing 3879.205
Assessments 3879.206
Utility Property Exempt from Impact Fees and Assessments 3879.207
Residential Property 3879.208
Operation and Maintenance Tax 3879.209
Contract Taxes 3879.210
Authority to Borrow Money and to Issue Bonds 3879.211
Taxes for Bonds 3879.212
Elections Regarding Taxes and Bonds 3879.213
Competitive Bidding 3879.214
Tax and Assessment Abatements 3879.251
Authority to Establish Defined Areas or Designated Property 3879.252
Procedure for Election 3879.253
Declaring Result and Issuing Order 3879.254
Taxes for Services, Improvements, and Facilities in Defined Area or Designated Property 3879.255
Issuance of Bonds and Imposition of Taxes for Defined Area or Designated Property 3879.301
Meanings of Words and Phrases 3879.302
Applicability of Certain Tax Code Provisions 3879.303
Authorization 3879.304
Abolishing Sales and Use Tax 3879.305
Sales and Use Tax Rate 3879.351
Hotel Occupancy Tax 3879.401
Municipal Annexation
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Accessed:
Jun. 5, 2024

§ 3879.210’s source at texas​.gov