GroundRules
Tex. Special District Local Laws Code § 3919.203: BORROWING MONEY; OBLIGATIONS.
Where this section sits in the code
- SPECIAL DISTRICT LOCAL LAWS CODE
- TITLE 4. DEVELOPMENT AND IMPROVEMENT
- SUBTITLE C. DEVELOPMENT, IMPROVEMENT, AND MANAGEMENT
- CHAPTER 3919. OLD CELINA MUNICIPAL MANAGEMENT DISTRICT NO. 1
- SUBCHAPTER D. GENERAL FINANCIAL PROVISIONS; ASSESSMENTS
(a) The district may borrow money for a district purpose, including the acquisition or construction of improvement projects authorized by this chapter and the reimbursement of a person who develops or owns an improvement project authorized by this chapter, without holding an election by issuing bonds, notes, time warrants, or other obligations, or by entering into a contract or other agreement payable wholly or partly from an assessment, a contract payment, a grant, other district revenue, or a combination of these sources.
(b) An obligation described by Subsection (a):
(1) may bear interest at a rate determined by the board; and
(2) may include a term or condition as determined by the board.
Added by Acts 2013, 83rd Leg., R.S., Ch. 1308 (H.B. 3914), Sec. 3, eff. September 1, 2013.
Collected 2026-08-27T01:47:41Z. Source file · JSON