Tex. Spec. Dist. Local Laws Code Section 3951.204
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.

(c)

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. 667 (S.B. 2276), Sec. 1, eff. June 12, 2017.

Source: Section 3951.204 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3951.­htm#3951.­204 (accessed Jun. 5, 2024).

3951.001
Definitions 3951.002
Nature of District 3951.003
Purpose 3951.004
Findings of Benefit and Public Purpose 3951.005
Initial District Territory 3951.006
Eligibility for Inclusion in Special Zones 3951.007
Applicability of Municipal Management Districts Law 3951.008
Construction of Chapter 3951.051
Governing Body 3951.052
Appointment of Voting Directors 3951.053
Nonvoting Directors 3951.054
Quorum 3951.055
Compensation 3951.101
General Powers and Duties 3951.102
Improvement Projects and Services 3951.103
Development Corporation Powers 3951.104
Nonprofit Corporation 3951.105
Agreements 3951.106
Law Enforcement Services 3951.107
Membership in Charitable Organizations 3951.108
Economic Development 3951.109
Parking Facilities 3951.110
Annexation and Exclusion of Land 3951.111
Navigation District Powers 3951.112
Road District Powers 3951.113
Road Standards and Requirements 3951.114
Property of Certain Utilities Exempt from Assessments and Fees 3951.115
Use of Electrical or Optical Lines 3951.116
No Eminent Domain Power 3951.151
Disbursements and Transfers of Money 3951.152
Money Used for Improvements or Services 3951.153
Petition Required for Financing Services and Improvements with Assessments 3951.154
Assessments 3951.155
Tax and Assessment Abatements 3951.156
Residential Property Not Exempt 3951.157
Competitive Bidding 3951.201
Elections Regarding Taxes and Bonds 3951.202
Operation and Maintenance Tax 3951.203
Contract Taxes 3951.204
Authority to Borrow Money and to Issue Bonds and Other Obligations 3951.205
Taxes for Bonds 3951.206
Bonds for Road Projects 3951.251
Meanings of Words and Phrases 3951.252
Applicability of Certain Tax Code Provisions 3951.253
Authorization 3951.254
Effective Date of Tax 3951.255
Sales and Use Tax Rate 3951.256
Examination and Receipt of Information 3951.257
Alternative Method of Imposition 3951.301
Authority to Establish Defined Areas or Designated Property 3951.302
Procedure for Election 3951.303
Declaring Result and Issuing Order 3951.304
Taxes for Services, Improvements, and Facilities in Defined Areas or Designated Property 3951.305
Issuance of Bonds for Defined Area or Designated Property 3951.351
Dissolution
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Accessed:
Jun. 5, 2024

§ 3951.204’s source at texas​.gov