Tex. Spec. Dist. Local Laws Code Section 3896.158
Bonds and Other Obligations; Municipal Approval

(a)

Except as provided by Sections 3896.157 (Bond Issuance Plan Required Before Issuing Bonds) and 3896.161 (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. 699 (H.B. 427), Sec. 1, eff. June 17, 2011.

Source: Section 3896.158 — Bonds and Other Obligations; Municipal Approval, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3896.­htm#3896.­158 (accessed Jun. 5, 2024).

3896.001
Definitions 3896.002
Creation and Nature of District 3896.003
Purpose 3896.004
Findings of Benefit and Public Purpose 3896.005
District Territory 3896.006
Eligibility for Reinvestment or Enterprise Zones 3896.007
Applicability of Municipal Management Districts Law 3896.008
Liberal Construction of Chapter 3896.051
Board of Directors 3896.052
Appointment of Directors 3896.053
Nonvoting Directors 3896.054
Conflicts of Interest 3896.055
Director’s Oath or Affirmation 3896.056
Officers 3896.057
Compensation of Directors 3896.059
Quorum 3896.101
General Powers and Duties 3896.102
Improvement Projects 3896.103
General Powers Regarding Contracts 3896.104
Competitive Bidding 3896.105
Economic Development 3896.106
Rules 3896.107
Name Change 3896.108
Adding or Removing Territory 3896.109
No Eminent Domain Power 3896.110
District Employees 3896.151
General Powers Regarding Financial Matters 3896.152
Borrowing Money 3896.153
Impact Fees and Assessments 3896.154
Certain Residential Property Not Exempt 3896.155
Maintenance and Operation Tax 3896.156
Use of Surplus Maintenance and Operation Money 3896.157
Bond Issuance Plan Required Before Issuing Bonds 3896.158
Bonds and Other Obligations 3896.159
Bond Maturity 3896.160
Taxes for Bonds and Other Obligations 3896.161
Project Development Agreement Required to Impose Taxes or Borrow Money, Including Bonds 3896.162
City Not Required to Pay District Obligations 3896.201
Dissolution by City Ordinance 3896.202
Collection of Assessments and Other Revenue 3896.203
Assumption of Assets and Liabilities
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3896.158’s source at texas​.gov