Tex. Spec. Dist. Local Laws Code Section 3881.210
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 set forth in 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. 247 (S.B. 2473), Sec. 1, eff. May 27, 2009.

Source: Section 3881.210 — Authority to Borrow Money and to Issue Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3881.­htm#3881.­210 (accessed Jun. 5, 2024).

3881.001
Definitions 3881.002
Nature of District 3881.003
Purpose 3881.004
Findings of Benefit and Public Purpose 3881.005
Initial District Territory 3881.006
Eligibility for Inclusion in Special Zones 3881.007
Applicability of Municipal Management Districts Law 3881.008
Liberal Construction of Chapter 3881.051
Governing Body 3881.052
Appointment of Directors 3881.053
Initial Voting Directors 3881.054
Nonvoting Directors 3881.055
Quorum 3881.056
Compensation 3881.101
Development Corporation Powers 3881.102
Nonprofit Corporation 3881.103
Agreements 3881.104
Authority to Contract for Law Enforcement Services 3881.105
Membership in Charitable Organizations 3881.106
Economic Development Programs 3881.107
Strategic Partnership Agreement 3881.108
No Eminent Domain 3881.109
Annexation or Exclusion of Land 3881.151
Parking Facilities Authorized 3881.152
Rules 3881.153
Financing of Public Parking Facilities 3881.201
Disbursements and Transfers of Money 3881.202
Money Used for Improvements or Services 3881.203
Petition Required for Financing Services and Improvements with Assessments 3881.204
Method of Notice for Hearing 3881.205
Assessments 3881.206
Utility Property Exempt from Impact Fees and Assessments 3881.207
Residential Property 3881.208
Operation and Maintenance Tax 3881.209
Contract Taxes 3881.210
Authority to Borrow Money and to Issue Bonds 3881.211
Taxes for Bonds 3881.212
Elections Regarding Taxes and Bonds 3881.213
Competitive Bidding 3881.214
Tax and Assessment Abatements 3881.251
Authority to Establish Defined Areas or Designated Property 3881.252
Procedure for Election 3881.253
Declaring Result and Issuing Order 3881.254
Taxes for Services, Improvements, and Facilities in Defined Areas or Designated Property 3881.255
Issuance of Bonds and Imposition of Taxes for Defined Area or Designated Property 3881.301
Municipal Annexation
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Accessed:
Jun. 5, 2024

§ 3881.210’s source at texas​.gov