Tex. Spec. Dist. Local Laws Code Section 3976.0507
Bonds Secured by Ad Valorem Taxes; Elections

(a)

If authorized at an election under Section 3976.0503 (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 2021, 87th Leg., R.S., Ch. 768 (H.B. 4659), Sec. 2, eff. June 15, 2021.

Source: Section 3976.0507 — Bonds Secured by Ad Valorem Taxes; Elections, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3976.­htm#3976.­0507 (accessed Apr. 20, 2024).

3976.0101
Definitions 3976.0102
Creation and Nature of District 3976.0103
Purpose 3976.0104
Findings of Benefit and Public Purpose 3976.0105
District Territory 3976.0106
Applicability of Municipal Management Districts Law 3976.0107
Construction of Chapter 3976.0108
Conflicts of Law 3976.0109
Consent of Municipality Required 3976.0201
Governing Body 3976.0202
Appointment and Removal of Director Appointed by City 3976.0203
Appointment by Commission 3976.0204
Vacancy 3976.0207
Compensation 3976.0208
Initial Directors 3976.0301
General Powers and Duties 3976.0302
Improvement Projects and Services 3976.0303
Location of Improvement Project 3976.0306
Adding or Removing Territory 3976.0307
No Eminent Domain Power 3976.0401
Disbursements and Transfers of Money 3976.0402
Money Used for Improvements or Services 3976.0403
Method of Notice for Hearing 3976.0404
Assessments 3976.0405
Notice of Assessments 3976.0503
Tax Election Required 3976.0504
Operation and Maintenance Tax 3976.0505
Authority to Borrow Money and to Issue Bonds and Other Obligations 3976.0506
Bonds Secured by Revenue or Contract Payments 3976.0507
Bonds Secured by Ad Valorem Taxes 3976.0601
Dissolution by City Ordinance 3976.0602
Collection of Assessments and Other Revenue 3976.0603
Assumption of Assets and Liabilities 3976.0701
Applicability 3976.0702
Conflict of Laws 3976.0703
Written Agreement Regarding Special Appraisals 3976.0704
Requirements for Advertising Bond Issue 3976.0705
Requirements for Bond Issue 3976.0706
Requirements for Collection of Revenue to Pay Bonds
Green check means up to date. Up to date

Accessed:
Apr. 20, 2024

§ 3976.0507’s source at texas​.gov