Tex. Spec. Dist. Local Laws Code Section 3962.0505
Bonds Secured by Ad Valorem Taxes; Elections

(a)

If authorized at an election under Section 3962.0501 (Tax Election Required), the district may issue bonds payable from ad valorem taxes.

(b)

Section 375.243 (Petition Required for Bond Election), Local Government Code, does not apply to the district.

(c)

At the time the district issues bonds payable wholly or partly from ad valorem taxes, the board shall provide for the annual imposition of a continuing direct annual ad valorem tax, without limit as to rate or amount, for each year that all or part of the bonds are outstanding as required and in the manner provided by Sections 54.601 (Tax Levy for Bonds) and 54.602 (Establishment of Tax Rate in Each Year), Water Code.

(d)

All or any part of any facilities or improvements that may be acquired by a district by the issuance of its bonds may be submitted as a single proposition or as several propositions to be voted on at the election.
Added by Acts 2019, 86th Leg., R.S., Ch. 407 (S.B. 2502), Sec. 1, eff. June 4, 2019.

Source: Section 3962.0505 — Bonds Secured by Ad Valorem Taxes; Elections, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3962.­htm#3962.­0505 (accessed May 26, 2025).

3962.0101
Definitions 3962.0102
Nature of District 3962.0103
Purpose 3962.0104
Findings of Benefit and Public Purpose 3962.0105
Initial District Territory 3962.0106
Eligibility for Inclusion in Special Zones 3962.0107
Applicability of Municipal Management Districts Law 3962.0108
Construction of Chapter 3962.0201
Governing Body 3962.0202
Qualifications and Appointment of Voting Directors 3962.0203
Nonvoting Directors 3962.0301
General Powers and Duties 3962.0302
Improvement Projects and Services 3962.0303
Nonprofit Corporation 3962.0304
Authority to Contract for Public Safety Services 3962.0305
Membership in Charitable Organizations 3962.0306
Economic Development Programs 3962.0307
Parking Facilities 3962.0308
Adding or Excluding Land 3962.0309
Disbursements and Transfers of Money 3962.0310
Residential Property Not Exempt 3962.0311
No Eminent Domain Power 3962.0401
Petition Required for Financing Services and Improvements with Assessments 3962.0402
Assessments 3962.0501
Tax Election Required 3962.0502
Operation and Maintenance Tax 3962.0503
Authority to Borrow Money and to Issue Bonds 3962.0504
Bonds Secured by Revenue or Contract Payments 3962.0505
Bonds Secured by Ad Valorem Taxes 3962.0506
Consent of Municipality Required 3962.0601
Authority to Establish Defined Areas or Designated Property 3962.0602
Procedure for Election 3962.0603
Declaring Result and Issuing Order 3962.0604
Taxes for Services, Improvements, and Facilities in Defined Areas or Designated Property 3962.0605
Issuance of Bonds for Defined Area or Designated Property 3962.0901
Dissolution
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Verified:
May 26, 2025

§ 3962.0505. Bonds Secured by Ad Valorem Taxes; Elections's source at texas​.gov