GroundRules
Tex. Special District Local Laws Code § 3982.0504: AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS AND OTHER 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 3982. PLUM CREEK MANAGEMENT DISTRICT NO. 1 OF LIBERTY COUNTY
- SUBCHAPTER E. TAXES AND BONDS
(a) The district may borrow money on terms 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, 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.
Added by Acts 2019, 86th Leg., R.S., Ch. 1006 (H.B. 4661), Sec. 1, eff. September 1, 2019.
Collected 2026-08-27T01:47:41Z. Source file · JSON