Tex. Spec. Dist. Local Laws Code Section 3960.204
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. 634 (H.B. 4315), Sec. 1, eff. June 12, 2017.

Source: Section 3960.204 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3960.­htm#3960.­204 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 3960.204’s source at texas​.gov