Tex. Spec. Dists. Code § 9011.251

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 9011.251 - Authority to Issue Bonds

(a) The district may issue bonds to carry out any purpose of this chapter and to:

(1) provide a water system, as authorized by this chapter, for municipal, domestic, and industrial purposes;

(2) pay fees of an attorney, engineer, or fiscal agent;

(3) pay the cost of printing and issuing bonds; and

(4) exercise any other power conferred by this chapter.

(b) The bonds must be authorized by a board resolution.

(c) Bonds issued by the district must be payable by a pledge of:

(1) revenue;

(2) ad valorem taxes imposed on all taxable property in the district; or

(3) both revenue and ad valorem taxes.

(d) The pledge must be in a resolution or trust indenture adopted or authorized by the board.

(e) A bond issuance payable wholly or partly from ad valorem taxes is subject to the conditions prescribed by this subchapter.

Tex. Spec. Dist. Loc. Laws § 9011.251

Added by Acts 2007, 80th Leg., R.S., Ch. 920, Sec. 1.12, eff. 4/1/2009.