Section 1055.203 - Election for General Obligation Bonds or Other Financial Arrangements(a) The district may issue general obligation bonds or make other financial arrangements secured by tax revenue only if authorized by a majority of the district voters voting at an election held for that purpose.(b) The board may order the election on its own motion.(c) The order calling the election must specify:(1) the date of the election;(2) the location of the polling places;(3) the presiding election officers;(4) the purpose for which the bonds are to be issued or the financial arrangements made;(5) the amount of the bonds or other financial arrangements to be authorized;(6) the maximum interest rate for the bonds or other financial arrangements; and(7) the maximum maturity of the bonds.(d) Notice of an election under this section shall be given by publishing a substantial copy of the order calling the election in a newspaper of general circulation in Marion County once a week for two consecutive weeks before the date of the election. The first publication must occur at least 14 days before the date of the election.Tex. Spec. Dist. Loc. Laws § 1055.203
Added by Acts 2007, 80th Leg., R.S., Ch. 920, Sec. 1.02, eff. 4/1/2009.