Tex. Spec. Dist. Local Laws Code § 3872.161 · Subchapter D. GENERAL FINANCIAL PROVISIONS
ELECTIONS REGARDING TAXES AND BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district may issue, without an election, bonds, notes, and other obligations secured by:
(1) revenue other than ad valorem taxes; or
(2) contract payments described by Section 3872.158.
(b) The district must hold an election in the manner provided by Subchapter L, Chapter 375, Local Government Code, to obtain voter approval before the district may impose an ad valorem tax or issue bonds payable from ad valorem taxes.
(c) The district may not issue bonds payable from ad valorem taxes to finance a road project unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election held for that purpose.
(d) At the time of issuance, the total principal amount of bonds or other obligations issued or incurred to finance road projects and payable from ad valorem taxes may not exceed one-fourth of the assessed value of the real property in the district.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 873 (S.B. 2511), 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.3872.htm
- Text hash
- sha256 a6ac8024d4da27e531ef4d34f85bedc1c1ddd870ae0da5e58c7672dc0264baf7
- 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
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