Section 3853.157 - Bonds and Other Obligations(a) The district may issue bonds or other obligations, by competitive bid or negotiated sale, payable wholly or partly from sales and use taxes, assessments, impact fees, revenue, grants, or other money of the district, or any combination of those sources of money, to pay for any authorized purpose of the district.(b) The district may issue a bond or other obligation in the form of a bond, note, certificate of participation or other instrument evidencing a proportionate interest in payments to be made by the district, or other type of obligation.(c) Section 375.243, Local Government Code, does not apply to the district.Tex. Spec. Dist. Loc. Laws § 3853.157
Added by Acts 2005, 79th Leg., Ch. 458, Sec. 1, eff. 6/17/2005.