Tex. Elec. Code § 3.009 · Chapter 3. ORDERING ELECTION
CONTENTS OF DEBT OBLIGATION ELECTION ORDER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "debt obligation" means an issued public security, as defined by Section 1201.002, Government Code, that is secured by and payable from ad valorem taxes. The term does not include public securities that are designated as self-supporting by the political subdivision issuing the securities.
(b) The document ordering an election to authorize a political subdivision to issue debt obligations must distinctly state:
(1) the proposition language that will appear on the ballot;
(2) the purpose for which the debt obligations are to be authorized;
(3) the principal amount of the debt obligations to be authorized;
(4) that taxes sufficient to pay the principal of and interest on the debt obligations may be imposed;
(5) a statement of the estimated tax rate if the debt obligations are authorized or of the maximum interest rate of the debt obligations or any series of the debt obligations, based on the market conditions at the time of the election order;
(6) the maximum maturity date of the debt obligations to be authorized or that the debt obligations may be issued to mature over a specified number of years not to exceed the maximum number of years authorized by law;
(7) the aggregate amount of the outstanding principal of the political subdivision's debt obligations as of the date the election is ordered;
(8) the aggregate amount of the outstanding interest on debt obligations of the political subdivision as of the date the election is ordered, which may be based on the political subdivision's expectations relative to variable rate debt obligations; and
(9) the ad valorem debt service tax rate for the political subdivision at the time the election is ordered, expressed as an amount per $100 valuation of taxable property.
Notes and commentary — not statutory text
History
Added by Acts 2013, 83rd Leg., R.S., Ch. 554 (S.B. 637), Sec. 1, eff. September 1, 2013.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 728 (H.B. 477), Sec. 1, eff. September 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/EL/htm/EL.3.htm
- Text hash
- sha256 3c5c5194abc90f15e27186008474cd82fefb878033a78b0478555f5e8f2bead1
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 1 provision
Provisions in this library whose text cites Tex. Elec. Code § 3.009. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.