Tex. Spec. Dist. Local Laws Code Section 3897.253
Authority to Borrow Money and to Issue Bonds

(a)

The district may borrow money on terms 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, 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.
Added by Acts 2011, 82nd Leg., R.S., Ch. 656 (S.B. 1184), Sec. 1, eff. June 17, 2011.

Source: Section 3897.253 — Authority to Borrow Money and to Issue Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3897.­htm#3897.­253 (accessed Jun. 5, 2024).

3897.001
Definitions 3897.002
Creation and Nature of District 3897.003
Purpose 3897.004
Findings of Benefit and Public Purpose 3897.005
District Territory 3897.006
Eligibility for Inclusion in Special Zones 3897.051
Governing Body 3897.052
Election Date 3897.053
Eligibility 3897.054
Vacancy 3897.055
Director’s Oath or Affirmation 3897.056
Officers 3897.057
Compensation of Directors 3897.101
General Powers and Duties 3897.102
Improvement Projects and Services 3897.103
Development Corporation Powers 3897.104
Nonprofit Corporation 3897.105
Agreements 3897.106
Law Enforcement Services 3897.107
Membership in Charitable Organizations 3897.108
Economic Development 3897.109
Water District Powers 3897.110
Road District Powers 3897.111
Conflict with Municipal Rule, Order, or Ordinance 3897.112
Name Change 3897.113
Terms of Employment 3897.114
Use of Roadway, Park, or Other Public Area or Facility of District 3897.115
Adding or Removing Territory 3897.116
No Eminent Domain Power 3897.117
No Toll Roads 3897.151
Municipal Requirements 3897.152
Board Determination Required 3897.153
Location of Improvement Project 3897.154
Lake 3897.155
Water 3897.156
Roads 3897.157
Storm Water 3897.158
Parking or Heliport 3897.159
Education and Culture 3897.160
Convention Center 3897.161
Demolition 3897.162
Mitigation of Environmental Effects 3897.163
Acquisition of Property 3897.164
Special or Supplemental Services 3897.165
Miscellaneous Design, Construction, and Maintenance 3897.166
Similar Improvement Projects 3897.201
General Contract Powers 3897.202
Contract Terms 3897.203
Reimbursement of Costs 3897.204
Contract for Improvement Project 3897.251
Project Development Agreement Required to Impose Taxes or Borrow Money, Including Bonds 3897.252
Elections Regarding Taxes and Bonds 3897.253
Authority to Borrow Money and to Issue Bonds 3897.254
Assessments 3897.255
Petition Required for Financing Services and Improvements with Assessments 3897.256
Impact Fees 3897.257
Storm Water User Charges 3897.258
Nonpotable Water User Charges 3897.259
Costs for Improvement Projects 3897.260
Residential Property Not Exempt 3897.301
Property Tax Authorized 3897.302
Taxes for Bonds and Other Obligations 3897.303
Maintenance and Operation Tax 3897.304
Use of Surplus Maintenance and Operation Money 3897.305
Tax Abatement 3897.306
Bonds and Other Obligations 3897.307
Bond Maturity 3897.351
Dissolution by Municipal Ordinance 3897.352
Limitation on Dissolution 3897.353
Collection of Assessments and Other Revenue 3897.354
Assumption of Assets and Liabilities
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3897.253’s source at texas​.gov