Tex. Spec. Dist. Local Laws Code Section 8198.151
Authority to Issue Bonds and Other Obligations for Road Projects

(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 8198.051 (Road Projects).

(b)

The district may not issue bonds or other obligations secured wholly or partly by ad valorem taxation to finance projects authorized by Section 8198.051 (Road Projects) unless the issuance is approved by a vote of a two-thirds majority of the voters in the district or of the defined areas to be benefited by the project as provided by Subchapter J (Authority to Establish Defined Areas or Designated Property), Chapter 54 (Municipal Utility Districts), Water Code, voting at an election called for that purpose.

(c)

Bonds or other obligations issued or incurred to finance projects authorized by Section 8198.051 (Road Projects) may not exceed one-fourth of the assessed value of the real property in the district or the defined area as provided by Subchapter J (Authority to Establish Defined Areas or Designated Property), Chapter 54 (Municipal Utility Districts), Water Code.
Added by Acts 2007, 80th Leg., R.S., Ch. 469 (H.B. 1401), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 1128 (H.B. 2590), Sec. 20, eff. September 1, 2019.

Source: Section 8198.151 — Authority to Issue Bonds and Other Obligations for Road Projects, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­8198.­htm#8198.­151 (accessed Apr. 13, 2024).

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Accessed:
Apr. 13, 2024

§ 8198.151’s source at texas​.gov