Tex. Spec. Dist. Local Laws Code Section 3973.0504
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 2019, 86th Leg., R.S., Ch. 1255 (H.B. 4653), Sec. 1, eff. September 1, 2019.

Source: Section 3973.0504 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3973.­htm#3973.­0504 (accessed Jun. 5, 2024).

3973.0101
Definitions 3973.0102
Nature of District 3973.0103
Purpose 3973.0104
Findings of Benefit and Public Purpose 3973.0105
Initial District Territory 3973.0106
Eligibility for Inclusion in Special Zones 3973.0107
Applicability of Municipal Management Districts Law 3973.0108
Construction of Chapter 3973.0109
Conflicts of Law 3973.0201
Governing Body 3973.0202
Quorum 3973.0203
Compensation 3973.0204
Temporary Directors 3973.0301
General Powers and Duties 3973.0302
Improvement Projects and Services 3973.0303
Authority for Road Projects 3973.0304
Conveyance and Approval of Road Project 3973.0305
Nonprofit Corporation 3973.0306
Agreements 3973.0307
Law Enforcement Services 3973.0308
Membership in Charitable Organizations 3973.0309
Economic Development 3973.0310
Parking Facilities 3973.0311
No Toll Roads 3973.0312
Rail Facilities 3973.0313
Annexation or Exclusion of Land 3973.0314
Division of District 3973.0315
No Eminent Domain Power 3973.0401
Disbursements and Transfers of Money 3973.0402
Money Used for Improvements or Services 3973.0403
Petition Required for Financing Services and Improvements with Assessments 3973.0404
Assessments 3973.0405
Residential Property Not Exempt 3973.0406
Tax and Assessment Abatements 3973.0501
Elections Regarding Taxes and Bonds 3973.0502
Operation and Maintenance Tax 3973.0503
Contract Taxes 3973.0504
Authority to Borrow Money and to Issue Bonds and Other Obligations 3973.0505
Taxes for Bonds 3973.0506
Bonds for Road Projects 3973.0601
Applicability of Certain Tax Code Provisions 3973.0602
Election 3973.0603
Sales and Use Tax Rate 3973.0604
Tax After Municipal Annexation 3973.0605
Notification of Rate Change 3973.0606
Use of Revenue 3973.0607
Abolition of Tax 3973.0701
Authority to Establish Defined Areas or Designated Property 3973.0702
Procedure for Election 3973.0703
Declaring Result and Issuing Order 3973.0704
Taxes for Services, Improvements, and Facilities in Defined Areas or Designated Property 3973.0705
Issuance of Bonds for Defined Area or Designated Property 3973.0706
Addition or Exclusion of Land in Defined Area
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3973.0504’s source at texas​.gov