Tex. Spec. Dist. Local Laws Code § 3933.252 · 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, 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, without holding an election by issuing bonds, notes, time warrants, credit agreements, 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, sales and use taxes, hotel occupancy taxes, 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 2015, 84th Leg., R.S., Ch. 1239 (H.B. 4155), 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.3933.htm
- Text hash
- sha256 c9a798c6319d06ce5bc08800cd244ab6b4d4cd4dd66ed70b7a064b1234617718
- 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 1 provision
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Special District Local Laws Code
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