Tex. Spec. Dist. Local Laws Code § 3986.0504 · Subchapter E. TAXES AND BONDS
AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS AND OTHER OBLIGATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district may borrow money on terms determined by the board.
(b) The district may issue bonds, notes, or other obligations payable wholly or partly from:
(1) 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;
(2) ad valorem taxes for a purpose authorized under Section 3986.0502; and
(3) assessments only to finance a major public infrastructure improvement project that serves a majority of the district.
(c) The district may issue, by public or private sale, bonds, notes, or other obligations payable wholly or partly from assessments in the manner provided by Subchapter A, Chapter 372, Local Government Code, if the improvement financed by an obligation issued under this section will be conveyed to or operated and maintained by a municipality or other retail utility provider pursuant to an agreement with the district entered into before the issuance of the obligation.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 1269 (H.B. 4706), Sec. 1, eff. June 14, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3986.htm
- Text hash
- sha256 83de7de997e7f2e76df57402e3d5acd97ce9ed27fad4bce62f5e41d1a5f55d8e
- 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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