Sec. 3866.157. BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations payable wholly or partly from ad valorem 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 2009, 81st Leg., R.S., Ch. 172 (H.B. 1300), Sec. 1, eff. May 27, 2009.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3866 - Kennedale Towncenter Development District
Subchapter D. Financial Provisions
Section 3866.151. Competitive Bidding
Section 3866.152. Authority to Impose Ad Valorem Taxes, Assessments, and Impact Fees
Section 3866.153. Elections Regarding Taxes or Bonds
Section 3866.154. Maintenance Tax
Section 3866.156. Petition Required for Financing Services and Improvements With Assessments