Tex. Spec. Dist. Local Laws Code Section 8240.201
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 8240.101 (Municipal Utility District Powers and Duties) or 8240.102 (Road Projects).

(b)

The district may not issue bonds or other obligations to finance projects authorized by Section 8240.102 (Road Projects) unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election held for that purpose.

(c)

Bonds or other obligations issued or incurred to finance projects authorized by Section 8240.102 (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. 1124 (H.B. 4017), Sec. 1, eff. September 1, 2007.

Source: Section 8240.201 — Authority to Issue Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­8240.­htm#8240.­201 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 8240.201’s source at texas​.gov