Sec. 3816.155. CONTRACTS SECURED BY AD VALOREM TAXES. A contract for which the payments are secured wholly or partly by ad valorem taxes may not be executed unless the imposition of the ad valorem taxes to secure the payment of the contract is approved by a majority, or a larger percentage if constitutionally required, of the voters in the district voting at an election held for that purpose.
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3816 - Frisco Square Management District
Subchapter D. Financial Provisions
Section 3816.151. Petition Required for Financing Services and Improvements
Section 3816.152. Disbursements and Transfers of Money
Section 3816.153. Authority to Impose Ad Valorem Taxes, Assessments, and Impact Fees
Section 3816.154. Maintenance Tax
Section 3816.155. Contracts Secured by Ad Valorem Taxes
Section 3816.157. Liens for Assessments
Section 3816.158. Utility Property Exempt From Assessments and Impact Fees
Section 3816.159. Elections Regarding Taxes or Bonds
Section 3816.160. Municipality Not Required to Pay District Obligations