Sec. 1501.256. PETITION; ELECTION. (a) If, before the governing body of the municipality is scheduled to adopt the ordinance authorizing the bonds, a petition is filed with the secretary of the municipality requesting an election on the issuance of the bonds that is signed by at least 10 percent of the registered voters who are resident owners of taxable property in 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 may hold an election on the issuance of the bonds regardless of whether a petition is filed.
(c) 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 1501.251. Applicability of Subchapter
Section 1501.252. Alternative Financing Procedure
Section 1501.253. Water Supply Project Ownership and Responsibilities
Section 1501.254. Ordinance Authorizing and Issuance of Bonds
Section 1501.255. Notice of Intention to Issue Bonds
Section 1501.256. Petition; Election
Section 1501.259. Sale of Bonds
Section 1501.260. Interim Bonds
Section 1501.261. Rates, Tolls, and Charges
Section 1501.262. Deposit and Use of Bond Proceeds