Tex. Spec. Dist. Local Laws Code § 3882.210 · Subchapter E. GENERAL FINANCIAL PROVISIONS
AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district may borrow money on terms and conditions as determined by the board. Section 375.205, Local Government Code, does not apply to a loan, line of credit, or other borrowing from a bank or financial institution secured by revenue other than ad valorem taxes.
(b) The district may issue bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, sales and use taxes, assessments, impact fees, revenue, contract payments, grants, or other district money, or any combination of those sources of money, to pay for any authorized district purpose.
(c) The limitation on the outstanding principal amount of bonds, notes, and other obligations set forth in Section 49.4645, Water Code, does not apply to the district.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 246 (S.B. 2472), Sec. 1, eff. May 27, 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.3882.htm
- Text hash
- sha256 354c69f31b91ac635f35e1132a56da9e93b730e98002475a4b1fb909b9bd4faa
- 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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