Tex. Spec. Dist. Local Laws Code Section 3938.204
Bonds and Other Obligations

(a)

The district may issue, by public or private sale, bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, sales and use taxes, or assessments in the manner provided by Subchapter J (General Obligation and Revenue Bonds), Chapter 375 (Municipal Management Districts in General), Local Government Code.

(b)

If the territory of the district is not located in the corporate boundaries or extraterritorial jurisdiction of a municipality, the district is not required to comply with Section 375.207 (Municipal Approval), Local Government Code, and may issue a bond or other obligation under Subchapter J (General Obligation and Revenue Bonds), Chapter 375 (Municipal Management Districts in General), Local Government Code, with the written consent of directors, as provided by Section 375.071 (Quorum), Local Government Code.

(c)

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.

(d)

In addition to the sources of money described by Subchapter J (General Obligation and Revenue Bonds), 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 improvement revenue or from any other source.
Added by Acts 2015, 84th Leg., R.S., Ch. 982 (H.B. 4154), Sec. 1, eff. June 19, 2015.

Source: Section 3938.204 — Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3938.­htm#3938.­204 (accessed Jun. 5, 2024).

3938.001
Definitions 3938.002
Creation and Nature of District 3938.003
Purpose 3938.004
Findings of Benefit and Public Purpose 3938.005
District Territory 3938.006
Applicability of Municipal Management Districts Law 3938.007
Construction of Chapter 3938.051
Governing Body 3938.052
Qualifications of Directors Appointed by County 3938.053
Appointment of Directors 3938.054
Vacancy 3938.055
Director’s Oath or Affirmation 3938.056
Quorum 3938.057
Officers 3938.058
Compensation 3938.059
Liability Insurance 3938.060
No Executive Committee 3938.061
Board Meetings 3938.101
General Powers and Duties 3938.102
Improvement Projects and Services 3938.103
Location of Improvement Project 3938.104
Development Corporation Powers 3938.105
Nonprofit Corporation 3938.106
Agreements 3938.107
Law Enforcement Services 3938.108
Membership in Charitable Organizations 3938.109
Economic Development 3938.110
Real Property Restrictions 3938.111
Designation of Special Zones 3938.112
Concurrence on Additional Powers 3938.113
No Eminent Domain Power 3938.151
Disbursements and Transfers of Money 3938.152
Money Used for Improvements or Services 3938.153
General Powers Regarding Payment of District Bonds, Obligations, or Other Costs 3938.154
Petition Required for Financing Services and Improvements with Assessments 3938.155
Assessments 3938.156
Storm Water User Charges 3938.157
Nonpotable Water User Charges 3938.158
Costs for Improvement Projects 3938.159
Tax and Assessment Abatements 3938.201
Tax Abatement 3938.202
Property Tax Authorized 3938.203
Sales and Use Tax 3938.204
Bonds and Other Obligations 3938.205
Bond Maturity 3938.206
Taxes for Bonds and Other Obligations 3938.251
Dissolution by Ordinance 3938.252
Collection of Assessments and Other Revenue 3938.253
Assumption of Assets and Liabilities
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3938.204’s source at texas​.gov