Tex. Spec. Dist. Local Laws Code Section 3984.0503
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 may, by competitive bid or negotiated sale, 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. 1259 (H.B. 4676), Sec. 1, eff. June 14, 2019.

Source: Section 3984.0503 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3984.­htm#3984.­0503 (accessed Jun. 5, 2024).

3984.0101
Definitions 3984.0102
Creation and Nature of District 3984.0103
Purpose 3984.0104
Findings of Benefit and Public Purpose 3984.0105
Initial District Territory 3984.0106
Eligibility for Inclusion in Special Zones 3984.0107
Applicability of Municipal Management Districts Law 3984.0108
Construction of Chapter 3984.0109
Conflicts of Law 3984.0201
Governing Body 3984.0202
Compensation 3984.0203
Temporary Directors 3984.0204
Disqualification of Directors 3984.0301
General Powers and Duties 3984.0302
Improvement Projects and Services 3984.0303
Recreational Facilities 3984.0304
Authority for Road Projects 3984.0305
Conveyance and Approval of Road Project 3984.0306
Rail Facilities 3984.0307
Nonprofit Corporation 3984.0308
Law Enforcement Services 3984.0309
Membership in Charitable Organizations 3984.0310
Economic Development Programs 3984.0311
Strategic Partnership Agreement 3984.0312
Regional Participation Agreement 3984.0313
Parking Facilities 3984.0314
Adding or Excluding Land 3984.0315
Disbursements and Transfers of Money 3984.0316
Audit Exemption 3984.0317
No Eminent Domain Power 3984.0401
Petition Required for Financing Services and Improvements with Assessments 3984.0402
Method of Notice for Hearing 3984.0403
Assessments 3984.0501
Tax Election Required 3984.0502
Operation and Maintenance Tax 3984.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations 3984.0504
Bonds Secured by Revenue or Contract Payments 3984.0505
Bonds Secured by Ad Valorem Taxes 3984.0506
Consent of Municipality Required 3984.0601
Applicability of Certain Tax Code Provisions 3984.0602
Election 3984.0603
Sales and Use Tax Rate 3984.0604
Tax After Municipal Annexation 3984.0605
Notification of Rate Change 3984.0606
Use of Revenue 3984.0607
Abolition of Tax 3984.0701
Definition 3984.0702
Applicability of Certain Tax Code Provisions 3984.0703
Tax Authorized 3984.0704
Tax Rate 3984.0705
Information 3984.0706
Use of Revenue 3984.0707
Abolition of Tax 3984.0901
Dissolution
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3984.0503’s source at texas​.gov