Tex. Spec. Dist. Local Laws Code Section 3971.0505
Bonds Secured by Ad Valorem Taxes; Elections

(a)

If authorized at an election under Section 3971.0501 (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. 473 (H.B. 4694), Sec. 1, eff. June 7, 2019.

Source: Section 3971.0505 — Bonds Secured by Ad Valorem Taxes; Elections, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3971.­htm#3971.­0505 (accessed Jun. 5, 2024).

3971.0101
Definitions 3971.0102
Nature of District 3971.0103
Purpose 3971.0104
Findings of Benefit and Public Purpose 3971.0105
Initial District Territory 3971.0106
Eligibility for Inclusion in Special Zones 3971.0107
Applicability of Municipal Management Districts Law 3971.0108
Construction of Chapter 3971.0201
Governing Body 3971.0202
Compensation 3971.0203
Initial Directors 3971.0301
General Powers and Duties 3971.0302
Improvement Projects and Services 3971.0303
Nonprofit Corporation 3971.0304
Law Enforcement Services 3971.0305
Membership in Charitable Organizations 3971.0306
Economic Development Programs 3971.0307
Parking Facilities 3971.0308
Adding or Excluding Land 3971.0309
Disbursements and Transfers of Money 3971.0310
No Eminent Domain Power 3971.0401
Petition Required for Financing Services and Improvements with Assessments 3971.0402
Assessments 3971.0501
Tax Election Required 3971.0502
Operation and Maintenance Tax 3971.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations 3971.0504
Bonds Secured by Revenue or Contract Payments 3971.0505
Bonds Secured by Ad Valorem Taxes 3971.0506
Bonds and Other Obligations for Improvement Under Agreement 3971.0507
Consent of Municipality Required 3971.0601
Applicability of Certain Tax Code Provisions 3971.0602
Election 3971.0603
Sales and Use Tax Rate 3971.0604
Notification of Rate Change 3971.0605
Use of Revenue 3971.0606
Abolition of Tax 3971.0701
Definition 3971.0702
Applicability of Certain Tax Code Provisions 3971.0703
Tax Authorized 3971.0704
Tax Rate 3971.0705
Information 3971.0901
Dissolution
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3971.0505’s source at texas​.gov