Tex. Spec. Dist. Local Laws Code Section 3948.204
Authority to Borrow Money and to Issue Bonds and Other Obligations


(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 2017, 85th Leg., R.S., Ch. 445 (S.B. 320), Sec. 1, eff. June 9, 2017.

Source: Section 3948.204 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3948.­htm#3948.­204 (accessed Jun. 5, 2024).

3948.001
Definitions
3948.002
Nature of District
3948.003
Purpose
3948.004
Findings of Benefit and Public Purpose
3948.005
Initial District Territory
3948.006
Eligibility for Inclusion in Special Zones
3948.007
Applicability of Municipal Management Districts Law
3948.008
Construction of Chapter
3948.051
Governing Body
3948.052
Appointment of Voting Directors
3948.053
Nonvoting Directors
3948.054
Quorum
3948.055
Compensation
3948.101
General Powers and Duties
3948.102
Improvement Projects and Services
3948.103
Development Corporation Powers
3948.104
Nonprofit Corporation
3948.105
Agreements
3948.106
Law Enforcement Services
3948.107
Membership in Charitable Organizations
3948.108
Economic Development
3948.109
Parking Facilities
3948.110
Road District Powers
3948.111
Road Standards and Requirements
3948.112
No Toll Roads
3948.113
Navigation District Powers
3948.114
Rail Facilities
3948.115
Rural Public Transportation Powers
3948.116
Annexation or Exclusion of Land
3948.117
No Eminent Domain Power
3948.151
Disbursements and Transfers of Money
3948.152
Money Used for Improvements or Services
3948.153
Petition Required for Financing Services and Improvements with Assessments
3948.154
Assessments
3948.155
Residential Property Not Exempt
3948.156
Competitive Bidding
3948.157
Tax and Assessment Abatements
3948.201
Elections Regarding Taxes and Bonds
3948.202
Operation and Maintenance Tax
3948.203
Contract Taxes
3948.204
Authority to Borrow Money and to Issue Bonds and Other Obligations
3948.205
Taxes for Bonds
3948.206
Bonds for Road Projects
3948.251
Authority to Establish Defined Areas or Designated Property
3948.252
Procedure for Election
3948.253
Declaring Result and Issuing Order
3948.254
Taxes for Services, Improvements, and Facilities in Defined Areas or Designated Property
3948.255
Issuance of Bonds for Defined Area or Designated Property

Accessed:
Jun. 5, 2024

§ 3948.204’s source at texas​.gov