Sec. 3841.158. BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations, by competitive bid or negotiated sale, payable wholly or partly from ad valorem 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) The district may issue a bond or other obligation in the form of a bond, note, certificate of participation or other instrument evidencing a proportionate interest in payments to be made by the district, or other type of obligation.
Added by Acts 2005, 79th Leg., Ch. 437 (S.B. 1805), Sec. 1, eff. June 17, 2005.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3841 - Galveston County Management District No. 1
Subchapter D. Financial Provisions
Section 3841.151. Disbursements and Transfers of Money
Section 3841.152. Money Used for Improvements or Services
Section 3841.153. Petition Required for Financing Services and Improvements With Assessments
Section 3841.154. Method of Notice for Hearing
Section 3841.155. Assessments; Liens for Assessments
Section 3841.156. Ad Valorem Tax
Section 3841.157. Utility Property Exempt From Impact Fees and Assessments
Section 3841.158. Bonds and Other Obligations
Section 3841.159. Taxes for Bonds and Other Obligations
Section 3841.160. Tax and Bond Elections
Section 3841.161. Cities Not Required to Pay District Obligations