Tex.
Spec. Dist. Local Laws Code Section 3972.0601
Bonds and Other Obligations
(a)
The district may issue, by public or private sale, bonds, notes, or other obligations payable wholly or partly from ad valorem taxes or assessments in the manner provided by Chapter 375 (Municipal Management Districts in General), Local Government Code, or, if an improvement financed by an obligation issued under this section will be conveyed to or operated and maintained by a municipality or other retail utility provider pursuant to an agreement with the district entered into before the issuance of the obligation, in the manner provided by Subchapter A (Short Title), Chapter 372 (Improvement Districts in Municipalities and Counties), Local Government Code.(b)
In exercising the district’s borrowing power, the district may issue a bond or other obligation in the form of a bond, note, certificate of participation or other instrument evidencing a proportionate interest in payments to be made by the district, or other type of obligation.(c)
In addition to the sources of money described by Subchapter A (Short Title), Chapter 372 (Improvement Districts in Municipalities and Counties), and Subchapter J, Chapter 375 (Municipal Management Districts in General), Local Government Code, district bonds may be secured and made payable wholly or partly by a pledge of any part of the money the district receives from improvement revenue or from any other source.
Source:
Section 3972.0601 — Bonds and Other Obligations, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3972.htm#3972.0601 (accessed Jun. 5, 2024).
