GroundRules
Tex. Special District Local Laws Code § 8203.201: AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS.
Where this section sits in the code
- SPECIAL DISTRICT LOCAL LAWS CODE
- TITLE 6. WATER AND WASTEWATER
- SUBTITLE F. MUNICIPAL UTILITY DISTRICTS For contingent expiration of this chapter, see Section 8203.004.
- CHAPTER 8203. SOMERSET MUNICIPAL UTILITY DISTRICT NO. 1
- SUBCHAPTER E. BONDS
(a) The district may issue bonds or other obligations as provided by Chapters 49 and 54, Water Code, and to finance the construction, maintenance, or operation of projects under Section 8203.102.
(b) The district may issue bonds or other obligations payable wholly or partly from ad valorem taxes, impact fees, revenue, grants, or other district money.
(c) The district may not issue bonds or other obligations secured wholly or partly by ad valorem taxation to finance projects authorized by Section 8203.102 unless the issuance is approved by a vote of a two-thirds majority of district voters voting at an election called for that purpose.
(d) Bonds or other obligations issued or incurred to finance projects authorized by Section 8203.102 may not exceed one-fourth of the assessed value of the real property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 982 (S.B. 1091), Sec. 1, eff. June 15, 2007.
Collected 2026-08-27T01:47:41Z. Source file · JSON