Tex. Spec. Dist. Local Laws Code Section 3975.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations

(a)

The district may borrow money on terms determined by the board.

(b)

The district, by competitive bid or negotiated sale, 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.

(c)

The limitation on the outstanding principal amount of bonds, notes, or other obligations provided by Section 49.4645 (District in Certain Counties: Bonds for Recreational Facilities), Water Code, does not apply to the district.
Added by Acts 2019, 86th Leg., R.S., Ch. 1257 (H.B. 4662), Sec. 1, eff. June 14, 2019.

Source: Section 3975.0503 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3975.­htm#3975.­0503 (accessed Jun. 5, 2024).

3975.0101
Definitions 3975.0102
Creation and Nature of District 3975.0103
Purpose 3975.0104
Findings of Benefit and Public Purpose 3975.0105
Initial District Territory 3975.0106
Eligibility for Inclusion in Special Zones 3975.0107
Applicability of Municipal Management Districts Law 3975.0108
Liberal Construction of Chapter 3975.0109
Conflicts of Law 3975.0201
Governing Body 3975.0202
Compensation 3975.0203
Temporary Directors 3975.0204
Disqualification of Directors 3975.0301
General Powers and Duties 3975.0302
Improvement Projects and Services 3975.0303
Recreational Facilities 3975.0304
Authority for Road Projects 3975.0305
Conveyance and Approval of Road Project 3975.0306
Nonprofit Corporation 3975.0307
Law Enforcement Services 3975.0308
Membership in Charitable Organizations 3975.0309
Economic Development Programs 3975.0310
Strategic Partnership Agreement 3975.0311
Regional Participation Agreement 3975.0312
Parking Facilities 3975.0313
Adding or Excluding Land 3975.0314
Disbursements and Transfers of Money 3975.0315
Audit Exemption 3975.0316
No Eminent Domain Power 3975.0401
Petition Required for Financing Services and Improvements with Assessments 3975.0402
Method of Notice for Hearing 3975.0403
Assessments 3975.0501
Tax Election Required 3975.0502
Operation and Maintenance Tax 3975.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations 3975.0504
Bonds Secured by Revenue or Contract Payments 3975.0505
Bonds Secured by Ad Valorem Taxes 3975.0506
Consent of Municipality Required 3975.0601
Applicability of Certain Tax Code Provisions 3975.0602
Election 3975.0603
Sales and Use Tax Rate 3975.0604
Tax After Municipal Annexation 3975.0605
Notification of Rate Change 3975.0606
Use of Revenue 3975.0607
Abolition of Tax 3975.0901
Dissolution
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3975.0503’s source at texas​.gov