Tex. Spec. Dist. Local Laws Code Section 3880.210
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. 1084 (H.B. 4777), Sec. 1, eff. June 19, 2009.

Source: Section 3880.210 — Authority to Borrow Money and to Issue Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3880.­htm#3880.­210 (accessed Jun. 5, 2024).

3880.001
Definitions 3880.002
Nature of District 3880.003
Purpose 3880.004
Findings of Benefit and Public Purpose 3880.005
Initial District Territory 3880.006
Eligibility for Inclusion in Special Zones 3880.007
Applicability of Municipal Management Districts Law 3880.008
Liberal Construction of Chapter 3880.051
Governing Body 3880.052
Appointment of Directors 3880.054
Nonvoting Directors 3880.055
Quorum 3880.056
Compensation 3880.101
Development Corporation Powers 3880.102
Nonprofit Corporation 3880.103
Agreements 3880.104
Authority to Contract for Law Enforcement Services 3880.105
Approval by the City of Houston 3880.106
Membership in Charitable Organizations 3880.107
Economic Development Programs 3880.108
No Eminent Domain 3880.109
Annexation or Exclusion of Land 3880.151
Public Transit System 3880.152
Parking Facilities Authorized 3880.153
Rules 3880.154
Financing of Public Transit System or Public Parking Facilities 3880.201
Disbursements and Transfers of Money 3880.202
Money Used for Improvements or Services 3880.203
Petition Required for Financing Services and Improvements with Assessments 3880.204
Method of Notice for Hearing 3880.205
Assessments 3880.206
Utility Property Exempt from Impact Fees and Assessments 3880.207
Residential Property 3880.208
Operation and Maintenance Tax 3880.209
Contract Taxes 3880.210
Authority to Borrow Money and to Issue Bonds 3880.211
Taxes for Bonds 3880.212
Elections Regarding Taxes and Bonds 3880.213
City Not Required to Pay District Obligations 3880.214
Competitive Bidding 3880.215
Tax and Assessment Abatements 3880.251
Authority to Establish Defined Areas or Designated Property 3880.252
Procedure for Election 3880.253
Declaring Result and Issuing Order 3880.254
Taxes for Services, Improvements, and Facilities in Defined Areas or Designated Property 3880.255
Issuance of Bonds and Imposition of Taxes for Defined Area or Designated Property
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3880.210’s source at texas​.gov