Sec. 1501.206. PETITION; ELECTION. (a) If, before the date the governing body of the municipality proposes to adopt the ordinance authorizing the issuance of the bonds, a petition is filed with the secretary or clerk of the municipality requesting an election on the issuance of the bonds that is signed by at least 10 percent of the registered voters of the municipality, the municipality may not issue the bonds unless a proposition for the issuance of the bonds is approved by a majority of the qualified voters of the municipality voting at an election held for that purpose.
(b) The governing body shall hold the election in the manner provided by Chapter 1251.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle J - Specific Authority for Municipalities to Issue Securities
Chapter 1501 - Obligations for Municipal Utilities
Section 1501.201. Applicability of Subchapter
Section 1501.203. Authority to Issue Bonds
Section 1501.204. Pledge of Revenue
Section 1501.205. Notice of Intention to Issue Bonds
Section 1501.206. Petition; Election
Section 1501.207. Sale of District Property
Section 1501.208. Interest and Sinking Fund of District
Section 1501.209. Investment of Money in Interest and Sinking Fund
Section 1501.210. Payment of Outstanding Bonds
Section 1501.211. Ordinance Specifying Date of Passage of Title; Abolition of District