Tex. Spec. Dist. Local Laws Code Section 3944.161
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 by competitive bid or negotiated sale issue bonds, notes, or other obligations payable wholly or partly from taxes, including ad valorem taxes, or assessments, fees, revenue, contract payments, grants, or other district money, or any combination of those sources of money, to pay for any authorized district purpose.

(c)

In addition to any other terms authorized by the board by bond order or resolution, the proceeds of the district’s bonds may be used for a reserve fund, credit enhancement, or capitalized interest for the bonds.

(d)

The limitation on the outstanding principal amount of bonds, notes, and other obligations provided by Section 49.4645 (District in Certain Counties: Bonds for Recreational Facilities), Water Code, does not apply to the district.
Added by Acts 2017, 85th Leg., R.S., Ch. 77 (H.B. 2332), Sec. 1, eff. May 23, 2017.

Source: Section 3944.161 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3944.­htm#3944.­161 (accessed Jun. 5, 2024).

3944.001
Definitions 3944.002
Creation and Nature of District 3944.003
Confirmation and Directors’ Election Required 3944.004
Consent of Municipality Required 3944.005
Purpose 3944.006
Findings of Benefit and Public Purpose 3944.007
District Territory 3944.008
Eligibility for Inclusion in Special Zones 3944.009
Applicability of Municipal Management Districts Law 3944.010
Liberal Construction of Chapter 3944.011
Conflicts of Law 3944.051
Governing Body 3944.052
Compensation 3944.053
Temporary Directors 3944.054
Disqualification of Directors 3944.101
General Powers and Duties 3944.102
Improvement Projects and Services 3944.103
Recreational Facilities 3944.104
Authority for Road Projects 3944.105
Conveyance and Approval of Road Project 3944.106
Development Corporation Powers 3944.107
Nonprofit Corporation 3944.108
Agreements 3944.109
Law Enforcement Services 3944.110
Membership in Charitable Organizations 3944.111
Economic Development 3944.112
Strategic Partnership Agreement 3944.113
Regional Participation Agreement 3944.114
Annexation or Exclusion of Land 3944.115
Applicability of Other Law to Certain Contracts 3944.116
Terms of Employment 3944.117
Parking Facilities 3944.118
No Eminent Domain Power 3944.151
Disbursements and Transfers of Money 3944.152
Money Used for Improvements or Services 3944.153
Petition Required for Financing Services and Improvements with Assessments 3944.154
Method of Notice for Hearing 3944.155
Assessments 3944.156
Tax and Assessment Abatements 3944.157
Utility Property Exempt from Assessments 3944.158
Residential Property 3944.159
Operation and Maintenance Tax 3944.160
Contract Taxes 3944.161
Authority to Borrow Money and to Issue Bonds and Other Obligations 3944.162
Taxes for Bonds 3944.163
Elections Regarding Taxes and Bonds 3944.164
Municipality Not Required to Pay District Obligations 3944.165
Audit Exemption 3944.201
Applicability of Certain Tax Code Provisions 3944.202
Election 3944.203
Sales and Use Tax Rate 3944.204
Tax After Municipal Annexation 3944.205
Notification of Rate Change 3944.206
Use of Revenue 3944.207
Abolition of Tax 3944.251
Definition 3944.252
Applicability of Certain Tax Code Provisions 3944.253
Tax Authorized 3944.254
Tax Rate 3944.255
Information 3944.256
Use of Revenue 3944.257
Abolition of Tax 3944.301
Dissolution of District with Outstanding Debt
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3944.161’s source at texas​.gov