Tex. Spec. Dist. Local Laws Code Section 3890.208
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 by competitive bid or negotiated sale 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 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. 870 (S.B. 2507), Sec. 1, eff. June 19, 2009.

Source: Section 3890.208 — Authority to Borrow Money and to Issue Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3890.­htm#3890.­208 (accessed Jun. 5, 2024).

3890.001
Definitions 3890.002
Nature of District 3890.003
Purpose 3890.004
Findings of Benefit and Public Purpose 3890.005
Initial District Territory 3890.006
Eligibility for Inclusion in Special Zones 3890.007
Applicability of Municipal Management Districts Law 3890.008
Liberal Construction of Chapter 3890.051
Governing Body 3890.052
Appointment of Directors 3890.054
Nonvoting Directors 3890.055
Quorum 3890.056
Compensation 3890.101
Development Corporation Powers 3890.102
Nonprofit Corporation 3890.103
Agreements 3890.104
Authority to Contract for Law Enforcement Services 3890.105
Approval by City 3890.106
Membership in Charitable Organizations 3890.107
Economic Development Programs 3890.108
No Eminent Domain 3890.109
Annexation or Exclusion of Land 3890.151
Public Transit System 3890.152
Parking Facilities Authorized 3890.153
Rules 3890.154
Financing of Public Parking Facilities 3890.201
Disbursements and Transfers of Money 3890.202
Money Used for Improvements or Services 3890.203
Petition Required for Financing Services and Improvements with Assessments 3890.204
Method of Notice for Hearing 3890.205
Assessments 3890.206
Utility Property Exempt from Impact Fees and Assessments 3890.207
Operation and Maintenance Tax 3890.208
Authority to Borrow Money and to Issue Bonds 3890.209
Taxes for Bonds 3890.210
Elections Regarding Taxes and Bonds 3890.211
City Not Required to Pay District Obligations 3890.212
Competitive Bidding 3890.213
Tax and Assessment Abatements 3890.251
Authority to Establish Defined Areas or Designated Property 3890.252
Procedure for Election 3890.253
Declaring Result and Issuing Order 3890.254
Taxes for Services, Improvements, and Facilities in Defined Areas or Designated Property 3890.255
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

§ 3890.208’s source at texas​.gov