Tex. Spec. Dist. Local Laws Code Section 6610.251
Authority to Issue Bonds; Taxes for Bonds

(a)

The board may issue district bonds to acquire money to accomplish any district purpose or carry out any power granted under this chapter to the district.

(b)

The board may impose continuing direct annual ad valorem taxes on all taxable property in the district sufficient to:

(1)

provide for the payment of the interest on the bonds as the interest accrues; and

(2)

create and provide for a sinking fund to pay the principal of the bonds as the principal matures.

Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.01, eff. April 1, 2017.

Source: Section 6610.251 — Authority to Issue Bonds; Taxes for Bonds, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.6610.htm#6610.251 (accessed Apr. 29, 2024).

6610.001
Definitions 6610.002
Nature of District 6610.003
Findings of Benefit and Purpose 6610.004
District Territory 6610.005
Liberal Construction of Chapter 6610.051
Composition of Board 6610.052
Qualifications for Office 6610.053
Director’s Bond 6610.054
Compensation of Directors 6610.055
Board Vacancy 6610.056
Board Meetings 6610.057
District Office 6610.058
District Employees 6610.101
General Powers 6610.102
General Reclamation and Drainage Powers 6610.103
Acquisition of Property 6610.104
Construction on Public Land 6610.105
Cost of Relocating or Altering Property 6610.106
Disposal of District Property 6610.107
Disposal of Impounded Water 6610.108
Contracts and Cooperation with State and Political Subdivisions 6610.109
Arrangements with United States 6610.151
Disbursement of Money 6610.152
Accounts, Contracts, and Other Records 6610.153
Filing of Copies of Audit Report 6610.154
Depository 6610.201
Ad Valorem Tax for Maintenance and Operation 6610.202
Election for Maintenance and Operation Tax 6610.203
Tax Assessor-collector 6610.204
Certification of Tax Rate 6610.251
Authority to Issue Bonds 6610.252
Form of Bonds 6610.253
Maturity 6610.254
Election Required 6610.255
Use of Bond Proceeds

Accessed:
Apr. 29, 2024

§ 6610.251’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._spec._dist._local_laws_code_section_6610.251

Original Source: Section 6610.251 — Authority to Issue Bonds; Taxes for Bonds, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.6610.htm#6610.251 (last accessed Apr. 29, 2024).