Tex. Spec. Dist. Local Laws Code § 3829.157 · Subchapter D. FINANCIAL PROVISIONS
BONDS AND OTHER OBLIGATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district may issue bonds or other obligations payable wholly or partly from ad valorem taxes, assessments, impact fees, revenue, grants, or other money of the district, or any combination of those sources of money, to pay for any authorized purpose of the district.
(b) The district may borrow money on terms determined by the board. Section 375.205, Local Government Code, does not apply to a loan, line of credit, or other debt from a bank or financial institution secured by revenue other than ad valorem taxes.
(c) The limitation on the outstanding principal amount of bonds, notes, and other obligations provided by Section 49.4645, Water Code, does not apply to the district.
(d) At the time the district issues bonds payable wholly or partly from ad valorem taxes, the board shall impose a continuing direct annual ad valorem tax, without limit as to rate or amount, for each year that all or part of the bonds are outstanding as required and in the manner provided by Sections 54.601 and 54.602, Water Code.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.03, eff. April 1, 2007.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1070 (H.B. 4727), Sec. 5, eff. June 19, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3829.htm
- Text hash
- sha256 065fdb1629ca5d3481b6a752d5e8974d3422d837109ad3869b96ca1371aab43d
- 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.
Local Government Code
Water Code
- Tex. Water Code § 49.4645DISTRICT IN CERTAIN COUNTIES: BONDS FOR RECREATIONAL FACILITIES.Printed as Section 49.4645, Water Code
- Tex. Water Code § 54.601TAX LEVY FOR BONDS.Printed as Sections 54.601 and 54.602, Water Code
- Tex. Water Code § 54.602ESTABLISHMENT OF TAX RATE IN EACH YEAR.Printed as Sections 54.601 and 54.602, Water Code
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.