Tex. Spec. Dist. Local Laws Code § 3929.253 · Subchapter E. GENERAL FINANCIAL PROVISIONS; ASSESSMENTS
BORROWING MONEY; OBLIGATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Subject to the terms of the development and operating agreement required under Section 3929.156, the district may borrow money for a district purpose, including the acquisition or construction of improvement projects authorized by this chapter and the reimbursement of a person who develops or owns an improvement project authorized by this chapter, 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.
(c) The board may issue an obligation under this section without an election.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 978 (H.B. 3605), Sec. 1, eff. September 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3929.htm
- Text hash
- sha256 7ae7f444a2fdd67a401c8c5a4ef431a0830db166907f83482246fb0dc40522cc
- 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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Special District Local Laws Code
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