{"data":{"id":"us-tx/tex.-special-district-local-laws-code-8282.254","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 8282.254","heading":"OBLIGATIONS.","body":"(a) In this section, \"obligation\" means a bond, note, lease-purchase agreement, or installment sale obligation of the district.\n(b) The principal amount of the district's obligations that are payable from assessments imposed by the district may be in an amount that does not exceed the aggregate appraised value of the property in the district, as established by an independent appraisal by a member of the Appraisal Institute.\n(c) The appraised value of the property in the district established for ad valorem tax purposes does not limit the principal amount of the obligations that may be issued by the district under Subsection (b).\n(d) The city is not required to pay the principal of and interest on an obligation issued by the district.\nAdded by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.04, eff. April 1, 2011.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 6. WATER AND WASTEWATER","SUBTITLE F. MUNICIPAL UTILITY DISTRICTS","CHAPTER 8282. FALCON'S LAIR UTILITY AND RECLAMATION DISTRICT","SUBCHAPTER F. BONDS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8282.htm#8282.254","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"7d0743d9e263c0e29f1b4e1f459f5d2ea3578e2bacffdd207630e1575c81a044","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-8282.253","next":"us-tx/tex.-special-district-local-laws-code-8283.001"},"notice":"GroundRules: Original legal text. Not legal advice."}