Tex. Special District Local Laws Code § 9305.0501: AUTHORITY TO ISSUE BONDS; TAXES FOR BONDS.

Text of section effective on April 01, 2027

(a) The district may issue bonds payable from ad valorem taxes imposed on all taxable property in the district to provide dams, structures, projects, and works of improvement for flood prevention, including structural and land treatment measures, to purchase and acquire lands, easements, and rights-of-way and for agricultural phases of conservation, development, and use and disposal of water, for necessary facilities, equipment, and properties in connection therewith and for improvement, maintenance, repair, and operation of same, and to carry out any other power conferred by this chapter.

(b) The board shall annually impose the taxes in an amount sufficient to pay the principal of and interest on the bonds as the bonds and interest become due.

(c) Bonds issued under this chapter must be authorized by a board resolution.

Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.04, eff. April 1, 2027.