Tex. Spec. Dist. Local Laws Code Section 3975.0505
Bonds Secured by Ad Valorem Taxes; Elections

(a)

If authorized at an election under Section 3975.0501 (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. 1257 (H.B. 4662), Sec. 1, eff. June 14, 2019.

Source: Section 3975.0505 — Bonds Secured by Ad Valorem Taxes; Elections, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3975.­htm#3975.­0505 (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

§ 3975.0505’s source at texas​.gov