Tex. Spec. Dist. Local Laws Code Section 3994.0503
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 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 2021, 87th Leg., R.S., Ch. 989 (H.B. 4628), Sec. 1, eff. June 18, 2021.

Source: Section 3994.0503 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3994.­htm#3994.­0503 (accessed May 4, 2024).

Green check means up to date. Up to date

Accessed:
May 4, 2024

§ 3994.0503’s source at texas​.gov