Sec. 3861.152. BORROWING MONEY. The district may borrow money for a district purpose by issuing or executing bonds, notes, credit agreements, or other obligations of any kind found by the board to be necessary or appropriate for the district purpose. The bond, note, credit agreement, or other obligation must be secured by and payable from ad valorem taxes, assessments, or any other district revenue.
Added by Acts 2007, 80th Leg., R.S., Ch. 531 (S.B. 919), Sec. 1, eff. June 16, 2007.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3861 - Viridian Municipal Management District
Subchapter D. General Financial Provisions
Section 3861.151. General Powers Regarding Financial Matters
Section 3861.152. Borrowing Money
Section 3861.153. Impact Fees and Assessments; Exemption
Section 3861.154. Certain Residential Property Not Exempt
Section 3861.155. Maintenance and Operation Tax; Election
Section 3861.156. Use of Surplus Maintenance and Operation Money
Section 3861.157. Bond Issuance Plan Required Before Issuing Bonds
Section 3861.158. Bonds and Other Obligations; Municipal Approval
Section 3861.159. Bond Maturity