Tex. Spec. Dist. Local Laws Code Section 4005.0505
Bonds Secured by Ad Valorem Taxes; Elections

(a)

If authorized at an election under Section 4005.0501 (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 2023, 88th Leg., R.S., Ch. 788 (H.B. 5372), Sec. 1, eff. June 13, 2023.

Source: Section 4005.0505 — Bonds Secured by Ad Valorem Taxes; Elections, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­4005.­htm#4005.­0505 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 4005.0505’s source at texas​.gov