{"data":{"id":"us-tx/tex.-special-district-local-laws-code-3902.253","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 3902.253","heading":"BORROWING MONEY; OBLIGATIONS.","body":"(a) The district may borrow money for a district purpose 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, revenue from a zone created under Chapter 311 or 312, Tax Code, other district revenue, or a combination of these sources.\n(b) An obligation described by Subsection (a):\n(1) may bear interest at a rate determined by the board; and\n(2) may include a term or condition as determined by the board.\nAdded by Acts 2011, 82nd Leg., R.S., Ch. 1195 (H.B. 3859), Sec. 1, eff. September 1, 2011.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 4. DEVELOPMENT AND IMPROVEMENT","SUBTITLE C. DEVELOPMENT, IMPROVEMENT, AND MANAGEMENT For contingent expiration of this chapter, see Section 3902.301.","CHAPTER 3902. CLUB MUNICIPAL MANAGEMENT DISTRICT NO. 1","SUBCHAPTER E. GENERAL FINANCIAL PROVISIONS; ASSESSMENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3902.htm#3902.253","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"27ae114674276fea1f5c1a462a7dcb96cce6e0b0b1ad98c3af84a95439541b15","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-3902.252","next":"us-tx/tex.-special-district-local-laws-code-3902.254"},"notice":"GroundRules: Original legal text. Not legal advice."}