GroundRules
Tex. Special District Local Laws Code § 3887.157: BONDS AND OTHER OBLIGATIONS; MUNICIPAL APPROVAL.
Where this section sits in the code
- SPECIAL DISTRICT LOCAL LAWS CODE
- TITLE 4. DEVELOPMENT AND IMPROVEMENT
- SUBTITLE C. DEVELOPMENT, IMPROVEMENT, AND MANAGEMENT
- CHAPTER 3887. GUADALUPE COUNTY DEVELOPMENT AND MANAGEMENT DISTRICT
- SUBCHAPTER D. GENERAL FINANCIAL PROVISIONS
(a) Subject to the requirements of Sections 3887.159 and 3887.160, the district by competitive bid or negotiated sale may issue bonds, notes, or other obligations payable wholly or partly from ad valorem taxes or from assessments in the manner provided by Subchapter A, Chapter 372, or Subchapter J, Chapter 375, Local Government Code.
(b) In exercising the district's borrowing power, 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 any other type of obligation.
(c) In addition to the sources of money described by Subchapter A, Chapter 372, and Subchapter J, Chapter 375, Local Government Code, district bonds may be secured and made payable, wholly or partly, by a pledge of any part of the money the district receives from system or improvement revenues or from any other source.
Added by Acts 2009, 81st Leg., R.S., Ch. 1078 (H.B. 4755), Sec. 1, eff. June 19, 2009.
Collected 2026-08-27T01:47:41Z. Source file · JSON