Tex. Spec. Dist. Local Laws Code § 3887.157 · Subchapter D. GENERAL FINANCIAL PROVISIONS
BONDS AND OTHER OBLIGATIONS; MUNICIPAL APPROVAL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Subject to the requirements of Sections 3887.159 and 3887.160, the district by competitive bid or negotiated sale may issue bonds, notes, or other obligations payable wholly or partly from ad valorem taxes or from assessments in the manner provided by Subchapter A, Chapter 372, or 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.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 1078 (H.B. 4755), 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.3887.htm
- Text hash
- sha256 c3d2728908a88c48ef6415494ec5632db07e8e52b407d4a9b9ca02defbae3ccd
- 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 § 3887.159TAXES FOR BONDS AND OTHER OBLIGATIONS.Printed as Sections 3887.159 and 3887.160
- Tex. Spec. Dist. Local Laws Code § 3887.160DEVELOPMENT AND OPERATING AGREEMENT REQUIRED TO UNDERTAKE IMPROVEMENT PROJECTS, IMPOSE TAXES OR ASSESSMENTS, AND BORROW MONEY, INCLUDING BONDS.Printed as Sections 3887.159 and 3887.160
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