Tex. Spec. Dist. Local Laws Code § 3902.253 · Subchapter E. GENERAL FINANCIAL PROVISIONS; ASSESSMENTS
BORROWING MONEY; OBLIGATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district may borrow money for a district purpose without holding an election by issuing bonds, notes, time warrants, or other obligations, or by entering into a contract or other agreement payable wholly or partly from an assessment, a contract payment, a grant, revenue from a zone created under Chapter 311 or 312, Tax Code, other district revenue, or a combination of these sources.
(b) An obligation described by Subsection (a):
(1) may bear interest at a rate determined by the board; and
(2) may include a term or condition as determined by the board.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 1195 (H.B. 3859), Sec. 1, eff. September 1, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3902.htm
- Text hash
- sha256 469d6bf390efba4cc2df3da2d708ac7f88dd281ba0c0de9e83b4aaf106224c73
- 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
Cited by 5 provisions
Provisions in this library whose text cites Tex. Spec. Dist. Local Laws Code § 3902.253. Each shows the citation as that text prints it.
Special District Local Laws Code
- Tex. Spec. Dist. Local Laws Code § 3902.006INITIAL DISTRICT TERRITORY.Printed as Section 3902.253
- Tex. Spec. Dist. Local Laws Code § 3902.007ELIGIBILITY FOR INCLUSION IN SPECIAL ZONES.Printed as Section 3902.253
- Tex. Spec. Dist. Local Laws Code § 3902.254DEVELOPMENT AGREEMENT, CAPITAL IMPROVEMENT PLAN, AND FINANCIAL PLAN REQUIRED.Printed as Section 3902.253
- Tex. Spec. Dist. Local Laws Code § 3902.255QUARTERLY REPORTING.Printed as Section 3902.253
- Tex. Spec. Dist. Local Laws Code § 3902.256ASSESSMENTS.Printed as Section 3902.253
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.