Tex. Spec. Dist. Local Laws Code Section 3979.0503
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. 1256 (H.B. 4657), Sec. 1, eff. June 14, 2019.

Source: Section 3979.0503 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3979.­htm#3979.­0503 (accessed Jun. 5, 2024).

3979.0101
Definitions 3979.0102
Creation and Nature of District 3979.0103
Purpose 3979.0104
Findings of Benefit and Public Purpose 3979.0105
Initial District Territory 3979.0106
Eligibility for Inclusion in Special Zones 3979.0107
Applicability of Municipal Management Districts Law 3979.0108
Liberal Construction of Chapter 3979.0109
Conflicts of Law 3979.0201
Governing Body 3979.0202
Compensation 3979.0203
Temporary Directors 3979.0204
Disqualification of Directors 3979.0301
General Powers and Duties 3979.0302
Improvement Projects and Services 3979.0303
Recreational Facilities 3979.0304
Authority for Road Projects 3979.0305
Conveyance and Approval of Road Project 3979.0306
Nonprofit Corporation 3979.0307
Law Enforcement Services 3979.0308
Membership in Charitable Organizations 3979.0309
Economic Development Programs 3979.0310
Strategic Partnership Agreement 3979.0311
Regional Participation Agreement 3979.0312
Parking Facilities 3979.0313
Adding or Excluding Land 3979.0314
Disbursements and Transfers of Money 3979.0315
Audit Exemption 3979.0316
No Eminent Domain Power 3979.0401
Petition Required for Financing Services and Improvements with Assessments 3979.0402
Method of Notice for Hearing 3979.0403
Assessments 3979.0501
Tax Election Required 3979.0502
Operation and Maintenance Tax 3979.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations 3979.0504
Bonds Secured by Revenue or Contract Payments 3979.0505
Bonds Secured by Ad Valorem Taxes 3979.0506
Consent of Municipality Required 3979.0601
Applicability of Certain Tax Code Provisions 3979.0602
Election 3979.0603
Sales and Use Tax Rate 3979.0604
Tax After Municipal Annexation 3979.0605
Notification of Rate Change 3979.0606
Use of Revenue 3979.0607
Abolition of Tax 3979.0701
Definition 3979.0702
Applicability of Certain Tax Code Provisions 3979.0703
Tax Authorized 3979.0704
Tax Rate 3979.0705
Information 3979.0706
Use of Revenue 3979.0707
Abolition of Tax 3979.0901
Dissolution
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3979.0503’s source at texas​.gov