Tex. Special District Local Laws Code § 3967.0503
AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS AND OTHER OBLIGATIONS
Texas · Texas Special District Local Laws Code · Status: effective
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- Citation
- Tex. Special District Local Laws Code § 3967.0503, AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS AND OTHER OBLIGATIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/600129
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Full text
(a) The district may borrow money on terms determined by the board.
(b) The district may, by competitive bid or negotiated sale, issue bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, assessments, impact fees, revenue, contract payments, grants, or other district money, or any combination of those sources of money, to pay for any authorized district purpose.
(c) The limitation on the outstanding principal amount of bonds, notes, or other obligations provided by Section 49.4645, Water Code, does not apply to the district.