Sec. 3842.157. BONDS AND OTHER OBLIGATIONS. (a) The district may issue by competitive bid or negotiated sale bonds 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) Section 375.243, Local Government Code, does not apply to the district.
(c) The limitation on the outstanding principal amount of bonds, notes, and other obligations provided by Section 49.4645(a), Water Code, does not apply to the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 589 (S.B. 1999), Sec. 2, eff. June 16, 2007.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3842 - Nasa Area Management District
Subchapter D. Financial Provisions
Section 3842.151. Disbursements and Transfers of Money
Section 3842.152. Money Used for Improvements or Services
Section 3842.153. Petition Required for Financing Services and Improvements With Assessments
Section 3842.154. Method of Notice for Hearing
Section 3842.155. Assessments; Liens for Assessments
Section 3842.156. Utility Property Exempt From Impact Fees and Assessments
Section 3842.157. Bonds and Other Obligations
Section 3842.158. City Not Required to Pay District Obligations
Section 3842.159. Competitive Bidding