Sec. 3876.212. ELECTIONS REGARDING TAXES AND BONDS. (a) The district may issue, without an election, bonds, notes, and other obligations secured by:
(1) revenue other than ad valorem taxes; or
(2) contract payments described by Section 3876.209.
(b) The district must hold an election in the manner provided by Subchapter L, Chapter 375, Local Government Code, to obtain voter approval before the district may impose an ad valorem tax or issue bonds payable from ad valorem taxes.
(c) Section 375.243, Local Government Code, does not apply to the district.
(d) All or any part of any facilities or improvements that the district may acquire by the issuance of its bonds may be submitted as a single proposition or as several propositions to be voted on at the election.
Added by Acts 2009, 81st Leg., R.S., Ch. 1083 (H.B. 4775), Sec. 1, eff. June 19, 2009.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3876 - Alden Lake Management District
Subchapter E. General Financial Provisions
Section 3876.201. Disbursements and Transfers of Money
Section 3876.202. Money Used for Improvements or Services
Section 3876.203. Petition Required for Financing Services and Improvements With Assessments
Section 3876.204. Method of Notice for Hearing
Section 3876.205. Assessments; Liens for Assessments
Section 3876.206. Utility Property Exempt From Impact Fees and Assessments
Section 3876.207. Residential Property
Section 3876.208. Operation and Maintenance Tax
Section 3876.209. Contract Taxes
Section 3876.210. Authority to Borrow Money and to Issue Bonds
Section 3876.211. Taxes for Bonds
Section 3876.212. Elections Regarding Taxes and Bonds
Section 3876.213. City Not Required to Pay District Obligations