Tex. Spec. Dist. Local Laws Code Section 8148.101
Authority to Issue Bonds and Other Obligations

(a)

The district may issue bonds or other obligations as provided by Chapters 49 (Provisions Applicable to All Districts) and 54 (Municipal Utility Districts), Water Code, to finance the construction, maintenance, or operation of projects under Section 8148.053 (Road Projects).

(b)

The district may not issue bonds to finance projects authorized by Section 8148.053 (Road Projects) unless the issuance is approved by a vote of a two-thirds majority of the voters of the district voting at an election called for that purpose.

(c)

Bonds or other obligations issued or incurred to finance projects authorized by Section 8148.053 (Road Projects) may not exceed one-fourth of the assessed value of the real property in the district.

(d)

Sections 49.181 (Authority of Commission over Issuance of District Bonds) and 49.182 (Commission Supervision of Projects and Improvements), Water Code, do not apply to a project undertaken by the district under Section 8148.053 (Road Projects) or to bonds issued by the district to finance the project.
Added by Acts 2005, 79th Leg., Ch. 439 (S.B. 1807), Sec. 1, eff. June 17, 2005.

Source: Section 8148.101 — Authority to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­8148.­htm#8148.­101 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 8148.101’s source at texas​.gov