Tex. Spec. Dist. Local Laws Code Section 3883.209
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. 885 (S.B. 2531), Sec. 1, eff. June 19, 2009.

Source: Section 3883.209 — Authority to Borrow Money and to Issue Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3883.­htm#3883.­209 (accessed Jun. 5, 2024).

3883.001
Definitions 3883.002
Nature of District 3883.003
Purpose 3883.004
Findings of Benefit and Public Purpose 3883.005
Initial District Territory 3883.006
Eligibility for Inclusion in Special Zones 3883.007
Applicability of Municipal Management Districts Law 3883.008
Liberal Construction of Chapter 3883.051
Governing Body 3883.052
Appointment of Directors 3883.053
Initial Voting Directors 3883.054
Nonvoting Directors 3883.055
Quorum 3883.056
Compensation 3883.101
Maritime Improvement and Operations Powers 3883.102
Development Corporation Powers 3883.103
Nonprofit Corporation 3883.104
Agreements 3883.105
Authority to Contract for Law Enforcement Services 3883.106
Membership in Charitable Organizations 3883.107
Economic Development Programs 3883.108
Strategic Partnership Agreement 3883.109
No Eminent Domain 3883.110
Annexation or Exclusion of Land 3883.151
Public Transit System 3883.152
Parking Facilities Authorized 3883.153
Rules 3883.154
Financing of Public Transit System or Parking Facilities 3883.201
Disbursements and Transfers of Money 3883.202
Money Used for Improvements or Services 3883.203
Petition Required for Financing Services and Improvements with Assessments 3883.204
Method of Notice for Hearing 3883.205
Assessments 3883.206
Utility Property Exempt from Impact Fees and Assessments 3883.207
Operation and Maintenance Tax 3883.208
Contract Taxes 3883.209
Authority to Borrow Money and to Issue Bonds 3883.210
Taxes for Bonds 3883.211
Elections Regarding Taxes and Bonds 3883.212
Competitive Bidding 3883.213
Tax and Assessment Abatements 3883.251
Authority to Establish Defined Areas or Designated Property 3883.252
Procedure for Election 3883.253
Declaring Result and Issuing Order 3883.254
Taxes for Services, Improvements, and Facilities in Defined Areas or Designated Property 3883.255
Issuance of Bonds and Imposition of Taxes for Defined Area or Designated Property 3883.301
Municipal Annexation
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Accessed:
Jun. 5, 2024

§ 3883.209’s source at texas​.gov