Sec. 3853.157. BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations, by competitive bid or negotiated sale, payable wholly or partly from sales and use 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.
(c) Section 375.243, Local Government Code, does not apply to the district.
Added by Acts 2005, 79th Leg., Ch. 458 (S.B. 1866), 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 3853 - Dickinson Management District No. 1
Subchapter D. Financial Provisions
Section 3853.151. Disbursements and Transfers of Money
Section 3853.152. Money Used for Improvements or Services
Section 3853.153. Petition Required for Financing Services and Improvements With Assessments
Section 3853.154. Method of Notice for Hearing
Section 3853.155. Assessments; Liens for Assessments
Section 3853.156. Utility Property Exempt From Impact Fees and Assessments
Section 3853.157. Bonds and Other Obligations
Section 3853.158. City Not Required to Pay District Obligations