Tex. Spec. Dist. Local Laws Code Section 8197.151
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 Sections 8197.051 (Municipal Utility District Powers and Duties) and 8197.052 (Road Projects).

(b)

The district may not issue bonds or other obligations secured wholly or partly by ad valorem taxes to finance projects authorized by Section 8197.052 (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 8197.052 (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. 545 (S.B. 1205), Sec. 1, eff. September 1, 2007.

Source: Section 8197.151 — Authority to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­8197.­htm#8197.­151 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 8197.151’s source at texas​.gov