Sec. 3839.158. BONDS AND OTHER OBLIGATIONS. (a) The district may issue by competitive bid or negotiated sale bonds, notes, or other obligations payable wholly or partly from taxes, assessments, impact fees, revenue, grants, or other money of the district, or any combination of those sources of money, to pay for any authorized purpose of the district.
(b) In addition to any other terms authorized by the board by bond order or resolution, the proceeds of the district's bonds may be used for a reserve fund, credit enhancement, or capitalized interest for the bonds.
(c) The limitation on the outstanding principal amount of bonds, notes, and other obligations provided by Section 49.4645, Water Code, does not apply to the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 1285 (H.B. 4045), Sec. 1, eff. June 15, 2007.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3839 - Towne Lake Management District
Subchapter D. Financial Provisions
Section 3839.151. Disbursements and Transfers of Money
Section 3839.152. Money Used for Improvements or Services
Section 3839.153. Petition Required for Financing Services and Improvements With Assessments
Section 3839.154. Method of Notice for Hearing
Section 3839.155. Assessments; Liens for Assessments
Section 3839.156. Ad Valorem Tax
Section 3839.157. Utility Property Exempt From Impact Fees or Assessments
Section 3839.158. Bonds and Other Obligations
Section 3839.159. Taxes for Bonds and Other Obligations
Section 3839.160. Tax and Bond Elections
Section 3839.161. City Not Required to Pay District Obligations