Sec. 3858.1522. ELECTIONS REGARDING BONDS. (a) The district may issue, without an election, bonds and other obligations secured by revenue from any source other than ad valorem taxes.
(b) The district must hold an election in the manner provided by Chapters 49 and 54, Water Code, to obtain voter approval before the district may issue bonds payable from ad valorem taxes.
Added by Acts 2015, 84th Leg., R.S., Ch. 974 (H.B. 2259), Sec. 6, eff. September 1, 2015.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3858 - Driftwood Economic Development Municipal Management District
Subchapter D. General Financial Provisions
Section 3858.151. Disbursements and Transfers of Money
Section 3858.1521. Bonds and Other Obligations
Section 3858.1522. Elections Regarding Bonds
Section 3858.153. Ad Valorem Tax; Election
Section 3858.154. Assessments; Liens for Assessments
Section 3858.155. Sales and Use Tax; Election