Tex. Spec. Dist. Local Laws Code § 3869.157 · Subchapter D. GENERAL FINANCIAL PROVISIONS
BONDS AND OTHER OBLIGATIONS; MUNICIPAL APPROVAL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by Sections 3869.159 and 3869.160, the district may issue by competitive bid or negotiated sale bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, or by assessments in the manner provided by Subchapter A, Chapter 372, or by Subchapter J, Chapter 375, Local Government Code.
(b) In exercising the district's borrowing power, the district may issue a bond or other obligation in the form of a bond, note, certificate of participation or other instrument evidencing a proportionate interest in payments to be made by the district, or any other type of obligation.
(c) In addition to the sources of money described by Subchapter A, Chapter 372, and Subchapter J, Chapter 375, Local Government Code, district bonds may be secured and made payable, wholly or partly, by a pledge of any part of the money the district receives from system or improvement revenues or from any other source, to the extent authorized by a project development agreement entered into under Section 3869.160.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 888 (S.B. 2550), Sec. 1, 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.3869.htm
- Text hash
- sha256 4d809a5657bc61853dde4f62914c2af09fab6bcb2ec7c4772765078fcee012e7
- 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
Special District Local Laws Code
- Tex. Spec. Dist. Local Laws Code § 3869.159TAXES FOR BONDS AND OTHER OBLIGATIONS.Printed as Sections 3869.159 and 3869.160
- Tex. Spec. Dist. Local Laws Code § 3869.160PROJECT DEVELOPMENT AGREEMENT REQUIRED TO UNDERTAKE PROJECTS, IMPOSE TAXES, OR BORROW MONEY, INCLUDING BONDS.Printed as Section 3869.160 | Sections 3869.159 and 3869.160
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