Section 1002.303 - General Obligation Bond Election(a) The district may issue general obligation bonds only if the bonds are authorized by a majority of the voters voting in an election held for that purpose.(b) The board may call the election on its own motion. The order calling the election must specify: (1) the date of the election;(2) the place or places where the election will be held;(3) the names of the presiding election officers;(4) the purpose for which the bonds are to be issued;(5) the amount of the bonds;(6) the maximum interest rate of the bonds; and(7) the maximum maturity of the bonds, which may not exceed 40 years from the date of issuance.(c) Notice of a bond election shall be given by publishing a substantial copy of the order calling the election in a newspaper of general circulation in the district as provided by Section 4.003(a)(1), Election Code.Tex. Spec. Dist. Loc. Laws § 1002.303
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. 4/1/2005.