Tex. Spec. Dist. Local Laws Code Section 3894.158
Bonds and Other Obligations; Municipal Approval

(a)

Except as provided by Sections 3894.157 (Bond Issuance Plan Required Before Issuing Bonds) and 3894.161 (Project Development Agreement Required to Impose Taxes or Borrow Money, Including Bonds), the district may issue, by competitive bid or negotiated sale, bonds, notes, or other obligations payable wholly or partly from ad valorem taxes or assessments in the manner provided by Subchapter A (Short Title), Chapter 372 (Improvement Districts in Municipalities and Counties), 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 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), 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 net proceeds the district receives from any other district revenue.
Added by Acts 2011, 82nd Leg., R.S., Ch. 880 (S.B. 234), Sec. 1, eff. June 17, 2011.

Source: Section 3894.158 — Bonds and Other Obligations; Municipal Approval, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3894.­htm#3894.­158 (accessed Jun. 5, 2024).

3894.001
Definitions 3894.002
Creation and Nature of District 3894.003
Purpose 3894.004
Findings of Benefit and Public Purpose 3894.005
District Territory 3894.006
Eligibility for Reinvestment or Enterprise Zones 3894.007
Applicability of Municipal Management Districts Law 3894.008
Liberal Construction of Chapter 3894.051
Board of Directors 3894.052
Appointment of Directors 3894.053
Nonvoting Directors 3894.054
Conflicts of Interest 3894.055
Director’s Oath or Affirmation 3894.056
Officers 3894.057
Compensation of Directors 3894.059
Quorum 3894.101
General Powers and Duties 3894.102
Improvement Projects 3894.103
Development Corporation Powers 3894.104
General Powers Regarding Contracts 3894.105
Competitive Bidding 3894.106
Economic Development 3894.107
Rules 3894.108
Name Change 3894.109
Adding or Removing Territory 3894.110
No Eminent Domain Power 3894.111
No Toll Roads 3894.112
District Employees 3894.151
General Powers Regarding Financial Matters 3894.152
Borrowing Money 3894.153
Impact Fees and Assessments 3894.154
Certain Residential Property Not Exempt 3894.155
Maintenance and Operation Tax 3894.156
Use of Surplus Maintenance and Operation Money 3894.157
Bond Issuance Plan Required Before Issuing Bonds 3894.158
Bonds and Other Obligations 3894.159
Bond Maturity 3894.160
Taxes for Bonds and Other Obligations 3894.161
Project Development Agreement Required to Impose Taxes or Borrow Money, Including Bonds 3894.162
City Not Required to Pay District Obligations 3894.201
Dissolution by City Ordinance 3894.202
Collection of Assessments and Other Revenue 3894.203
Assumption of Assets and Liabilities
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3894.158’s source at texas​.gov