Tex. Spec. Dist. Local Laws Code Section 7811.202
Authority to Issue Bonds and Incur Indebtedness

(a)

The district may issue bonds and incur other indebtedness in the manner provided by Section 7803.113 (Notice of District Elections) and Subchapter E (Authority to Issue Bonds), Chapter 7803 (Irving Flood Control District Section I).

(b)

The district shall file with both constituent municipalities a notice of intent to issue bonds or other indebtedness not later than the 20th day before the date of issuance. The notice must state the purpose for which the bonds or other indebtedness are issued and the approximate principal amount of the bonds or indebtedness.

(c)

Before the district issues bonds or other indebtedness in an amount of more than $500,000, the district must obtain the approval by resolution of the governing bodies of both constituent municipalities.

(d)

Bonds or other indebtedness may not be sold at discount from the principal amount without the prior approval of both constituent municipalities.
Added by Acts 2017, 85th Leg., R.S., Ch. 869 (H.B. 2803), Sec. 1.03, eff. April 1, 2019.

Source: Section 7811.202 — Authority to Issue Bonds and Incur Indebtedness, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­7811.­htm#7811.­202 (accessed Jun. 5, 2024).

7811.001
Definitions 7811.002
Nature of District 7811.003
Findings of Benefit and Public Purpose 7811.004
District Territory 7811.005
Annexation of Land 7811.051
Composition of Board 7811.052
Qualifications and Eligibility for Office 7811.053
Director’s Bond 7811.054
Board Vacancy 7811.055
Board President 7811.056
Secretary’s Duties 7811.057
Treasurer 7811.058
Compensation of Directors 7811.059
Vote Required for Official Board Action 7811.060
Designation of Director to Act on District’s Behalf 7811.061
District Office 7811.062
Records 7811.101
General Powers and Duties 7811.102
Eminent Domain 7811.103
Cost of Relocating or Altering Property 7811.104
Contracts for Facilities and Improvements 7811.105
Prohibited Functions 7811.106
Standards for Road, Street, or Utility Construction 7811.107
Approval of Reclamation Plan, Amendment, or Project 7811.151
Designation of Reinvestment Zone 7811.152
Criteria for Reinvestment Zone 7811.153
Expiration of Reinvestment Zone 7811.154
Tax Abatement Agreement 7811.155
Tax Abatement Agreement: Certificated Air Carrier 7811.156
Tax Abatement Agreement Requirements 7811.157
Notice of Tax Abatement Agreement to Other Taxing Units 7811.158
Modification or Termination of Tax Abatement Agreement 7811.159
Registry of Reinvestment Zones and Tax Abatement Agreements 7811.160
Properties that May Be Included in Tax Abatement Agreement 7811.201
Depository 7811.202
Authority to Issue Bonds and Incur Indebtedness 7811.203
Constituent Municipalities Not Obligated to Pay District Obligations 7811.204
Bond Anticipation Notes 7811.205
Previously Authorized Maintenance Taxes
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 7811.202’s source at texas​.gov