Sec. 3856.157. BONDS AND OTHER OBLIGATIONS. (a) The district may issue 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) In exercising the district's borrowing power, 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 2007, 80th Leg., R.S., Ch. 1128 (H.B. 4053), 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 3856 - Galveston Grand Beach Management District
Subchapter D. Financial Provisions
Section 3856.151. Disbursements and Transfers of Money
Section 3856.152. Tax and Bond Elections
Section 3856.153. Ad Valorem Tax
Section 3856.154. Assessments; Liens for Assessments
Section 3856.155. Petition Required for Financing Services and Improvements With Assessments
Section 3856.156. Utility Property Exempt From Impact Fees or Assessments
Section 3856.157. Bonds and Other Obligations
Section 3856.158. Municipality Not Required to Pay District Obligations