Tex. Spec. Dist. Local Laws Code § 8282.254 · Subchapter F. BONDS
OBLIGATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "obligation" means a bond, note, lease-purchase agreement, or installment sale obligation of the district.
(b) The principal amount of the district's obligations that are payable from assessments imposed by the district may be in an amount that does not exceed the aggregate appraised value of the property in the district, as established by an independent appraisal by a member of the Appraisal Institute.
(c) The appraised value of the property in the district established for ad valorem tax purposes does not limit the principal amount of the obligations that may be issued by the district under Subsection (b).
(d) The city is not required to pay the principal of and interest on an obligation issued by the district.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.04, eff. April 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.8282.htm
- Text hash
- sha256 0d916f9dd7e5ecf2a887d7398c171bbe795eff323725ab77eb487bf2132403a4
- 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
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.