Tex. Spec. Dist. Local Laws Code Section 3939.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations

(a)

The district may borrow money on terms determined by the board.

(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 2023, 88th Leg., R.S., Ch. 563 (H.B. 5355), Sec. 1, eff. June 11, 2023.

Source: Section 3939.0503 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3939.htm#3939.0503 (accessed May 26, 2025).

3939.0101
Definitions 3939.0102
Nature of District 3939.0103
Purpose 3939.0104
Findings of Benefit and Public Purpose 3939.0105
Initial District Territory 3939.0106
Eligibility for Inclusion in Special Zones 3939.0107
Applicability of Municipal Management Districts Law 3939.0108
Construction of Chapter 3939.0201
Governing Body 3939.0202
Compensation 3939.0203
Initial Directors 3939.0301
General Powers and Duties 3939.0302
Improvement Projects and Services 3939.0303
Nonprofit Corporation 3939.0304
Law Enforcement Services 3939.0305
Membership in Charitable Organizations 3939.0306
Economic Development Programs 3939.0307
Parking Facilities 3939.0308
Adding or Excluding Land 3939.0309
Disbursements and Transfers of Money 3939.0310
Rail Facilities 3939.0311
No Eminent Domain Power 3939.0401
Petition Required for Financing Services and Improvements with Assessments 3939.0402
Assessments 3939.0501
Tax Election Required 3939.0502
Operation and Maintenance Tax 3939.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations 3939.0504
Bonds Secured by Revenue or Contract Payments 3939.0505
Bonds Secured by Ad Valorem Taxes 3939.0506
Consent of Municipality Required 3939.0901
Dissolution

Verified:
May 26, 2025

§ 3939.0503. Auth. to Borrow Money & to Issue Bonds and Other Obligations's source at texas.gov

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Location: https://texas.public.law/statutes/tex._spec._dist._local_laws_code_section_3939.0503

Original Source: Section 3939.0503 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3939.htm#3939.0503 (last accessed May 10, 2025).