Tex. Spec. Dist. Local Laws Code Section 3884.157
Bonds and Other Obligations

(a)

Subject to the requirements of Sections 3884.159 (Taxes for Bonds and Other Obligations) and 3884.160 (Development and Operating Agreement Required), the district may issue by public or private sale bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, or by assessments in the manner provided by Subchapter A (Short Title), Chapter 372 (Improvement Districts in Municipalities and Counties), Local Government Code, or Subchapter J, Chapter 375 (Municipal Management Districts in General), Local Government Code.

(b)

In exercising the district’s borrowing power, the district may issue a bond or other obligation in the form of a bond, note, certificate of participation or other instrument evidencing a proportionate interest in payments to be made by the district, or any other type of obligation.

(c)

In addition to the sources of money described by Subchapter A (Short Title), Chapter 372 (Improvement Districts in Municipalities and Counties), Local Government Code, and Subchapter J, Chapter 375 (Municipal Management Districts in General), Local Government Code, district bonds may be secured and made payable wholly or partly by a pledge of any part of the money the district receives from system or improvement project revenue or from any other source, including revenue received by the district under Chapter 311 (Tax Increment Financing Act), Tax Code.
Added by Acts 2009, 81st Leg., R.S., Ch. 866 (S.B. 2501), Sec. 1, eff. June 19, 2009.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 763 (H.B. 1651), Sec. 1, eff. September 1, 2011.

Source: Section 3884.157 — Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3884.­htm#3884.­157 (accessed Jun. 5, 2024).

3884.001
Definitions 3884.002
Creation and Nature of District 3884.003
Purpose 3884.004
Findings of Benefit and Public Purpose 3884.005
District Territory 3884.006
Eligibility for Inclusion in Special Zones 3884.051
Governing Body 3884.052
Appointment of Directors 3884.053
Qualifications of Directors Appointed by City 3884.054
Vacancy 3884.055
Director’s Oath or Affirmation 3884.056
Officers 3884.057
Compensation 3884.058
Conflicts of Interest 3884.101
General Powers and Duties 3884.102
Improvement Projects 3884.103
General Powers Regarding Contracts 3884.104
Rules 3884.105
Name Change 3884.106
Adding or Removing Territory 3884.107
Economic Development 3884.108
No Eminent Domain Power 3884.109
Terms of Employment 3884.110
Notice to Property Owners 3884.151
General Powers Regarding Financial Matters 3884.152
Borrowing Money 3884.153
Assessments 3884.154
Residential Property Exempt 3884.155
Maintenance and Operation Tax 3884.156
Use of Surplus Maintenance and Operation Money 3884.157
Bonds and Other Obligations 3884.158
Bond Maturity 3884.159
Taxes for Bonds and Other Obligations 3884.160
Development and Operating Agreement Required 3884.251
Dissolution by City Ordinance 3884.252
Collection of Assessments and Other Revenue 3884.253
Concurrence on Additional Powers 3884.254
Assumption of Assets and Liabilities 3884.301
Authority to Establish Defined Areas or Designated Property 3884.302
Procedure to Establish Defined Areas or Designated Property 3884.303
Tax or Bond Election 3884.304
Declaring Result 3884.305
Taxes for Services, Improvements, and Facilities in Defined Areas or Designated Property 3884.306
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

§ 3884.157’s source at texas​.gov