Sec. 3795.201. ELECTIONS REGARDING TAXES AND BONDS. (a) The district may issue, without an election, bonds, notes, and other obligations secured by revenue other than ad valorem taxes.
(b) The district must hold an election in the manner provided by Subchapter L, Chapter 375, Local Government Code, to obtain voter approval before the district may impose an ad valorem tax or issue bonds payable from ad valorem taxes.
(c) The district may not issue bonds payable from ad valorem taxes to finance a road project unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election held for that purpose.
Added by Acts 2017, 85th Leg., R.S., Ch. 643 (H.B. 4341), Sec. 1, eff. June 12, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3795 - Liberty County Municipal Management District No. 1
Section 3795.201. Elections Regarding Taxes and Bonds
Section 3795.202. Agreement Required for Bonds
Section 3795.203. Operation and Maintenance Tax
Section 3795.204. Sales and Use Tax
Section 3795.205. Authority to Borrow Money and to Issue Bonds and Other Obligations