GroundRules
Tex. Special District Local Laws Code § 3881.210: AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS.
Where this section sits in the code
- SPECIAL DISTRICT LOCAL LAWS CODE
- TITLE 4. DEVELOPMENT AND IMPROVEMENT
- SUBTITLE C. DEVELOPMENT, IMPROVEMENT, AND MANAGEMENT
- CHAPTER 3881. HARRIS COUNTY IMPROVEMENT DISTRICT NO. 13
- SUBCHAPTER E. GENERAL FINANCIAL PROVISIONS
(a) The district may borrow money on terms and conditions as determined by the board. Section 375.205, Local Government Code, does not apply to a loan, line of credit, or other borrowing from a bank or financial institution secured by revenue other than ad valorem taxes.
(b) The district may issue bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, sales and use 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, and other obligations set forth in Section 49.4645, Water Code, does not apply to the district.
Added by Acts 2009, 81st Leg., R.S., Ch. 247 (S.B. 2473), Sec. 1, eff. May 27, 2009.
Collected 2026-08-27T01:47:41Z. Source file · JSON