Tex. Spec. Dist. Local Laws Code Section 4001.0503
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.

Added by Acts 2023, 88th Leg., R.S., Ch. 787 (H.B. 5344), Sec. 2(a), eff. June 13, 2023.

Source: Section 4001.0503 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.4001.htm#4001.0503 (accessed May 4, 2024).

4001.0101
Definitions 4001.0102
Nature of District 4001.0103
Purpose 4001.0104
Findings of Benefit and Public Purpose 4001.0105
Initial District Territory 4001.0106
Eligibility for Inclusion in Special Zones 4001.0107
Applicability of Municipal Management Districts Law 4001.0108
Construction of Chapter 4001.0201
Governing Body 4001.0202
Compensation 4001.0203
Temporary Directors 4001.0301
General Powers and Duties 4001.0302
Improvement Projects and Services 4001.0303
Nonprofit Corporation 4001.0304
Law Enforcement Services 4001.0305
Membership in Charitable Organizations 4001.0306
Economic Development Programs 4001.0307
Parking Facilities 4001.0308
Adding or Excluding Land 4001.0309
Disbursements and Transfers of Money 4001.0310
Certain Residential Property Not Exempt 4001.0311
Eminent Domain 4001.0312
Division of District 4001.0401
Petition Required for Financing Services and Improvements with Assessments 4001.0402
Assessments 4001.0501
Tax Election Required 4001.0502
Operation and Maintenance Tax 4001.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations 4001.0504
Bonds Secured by Revenue or Contract Payments 4001.0505
Bonds Secured by Ad Valorem Taxes 4001.0506
Consent of Municipality Required 4001.0901
Dissolution

Accessed:
May 4, 2024

§ 4001.0503’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._spec._dist._local_laws_code_section_4001.0503

Original Source: Section 4001.0503 — Authority to Borrow Money and to Issue Bonds and Other Obligations, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.4001.htm#4001.0503 (last accessed May 4, 2024).