Tex. Spec. Dist. Local Laws Code Section 3953.205
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. 630 (H.B. 4297), Sec. 1, eff. June 12, 2017.

Source: Section 3953.205 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3953.­htm#3953.­205 (accessed Jun. 5, 2024).

3953.001
Definitions
3953.002
Nature of District
3953.003
Purpose
3953.004
Findings of Benefit and Public Purpose
3953.005
Initial District Territory
3953.006
Eligibility for Inclusion in Special Zones
3953.007
Applicability of Municipal Management Districts Law
3953.008
Construction of Chapter
3953.051
Governing Body
3953.052
Appointment of Voting Directors
3953.053
Nonvoting Directors
3953.054
Removal of Directors
3953.055
Quorum
3953.101
General Powers and Duties
3953.102
Improvement Projects and Services
3953.103
Location of Improvement Project
3953.104
Public Improvement District Powers
3953.105
Municipal Management District Powers
3953.106
Development Corporation Powers
3953.107
Nonprofit Corporation
3953.108
Agreements
3953.109
Law Enforcement Services
3953.110
Membership in Charitable Organizations
3953.111
Economic Development
3953.112
Parking Facilities
3953.113
Annexation or Exclusion of Land
3953.114
Approval by City
3953.115
Concurrence on Additional Powers
3953.116
No Eminent Domain Power
3953.151
Disbursements and Transfers of Money
3953.152
Money Used for Improvements or Services
3953.153
Petition Required for Financing Services and Improvements with Assessments
3953.154
Assessments
3953.155
Residential Property Not Exempt
3953.156
Tax and Assessment Abatements
3953.201
Tax Abatement
3953.202
Elections Regarding Taxes and Bonds
3953.203
Operation and Maintenance Tax
3953.204
Contract Taxes
3953.205
Authority to Borrow Money and to Issue Bonds and Other Obligations
3953.206
Taxes for Bonds
3953.251
Dissolution by City Ordinance
3953.252
Collection of Assessments and Other Revenue
3953.253
Assumption of Assets and Liabilities

Accessed:
Jun. 5, 2024

§ 3953.205’s source at texas​.gov