Texas Special District Local Laws Code
Sec. § 8175.201
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 a project under Section 8175.101 (Municipal Utility District Powers and Duties) or 8175.102 (Road Projects).

(b)

The district may not issue bonds or other obligations to finance projects authorized by Section 8175.102 (Road Projects) unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election called for that purpose.

(c)

Bonds or other obligations issued or incurred to finance projects authorized by Section 8175.102 (Road Projects) may not exceed one-fourth of the assessed value of the real property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 117 (S.B. 1041), Sec. 1, eff. September 1, 2007.
Source
Tex. Legislature
Last accessed
Mar. 7, 2021
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