Sec. 3791.0503. AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS AND OTHER OBLIGATIONS. (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 ad valorem taxes, assessments, 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.
Added by Acts 2021, 87th Leg., R.S., Ch. 771 (H.B. 4666), Sec. 1, eff. September 1, 2021.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3791 - Lorena Municipal Management District No. 1
Section 3791.0501. Tax Election Required
Section 3791.0502. Operation and Maintenance Tax
Section 3791.0503. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3791.0504. Bonds Secured by Revenue or Contract Payments
Section 3791.0505. Bonds Secured by Ad Valorem Taxes; Elections