Sec. 3877.210. AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS. (a) The district may borrow money on terms and conditions as determined by the board. Section 375.205, Local Government Code, does not apply to a loan, line of credit, or other borrowing from a bank or financial institution secured by revenue other than ad valorem taxes.
(b) The district may issue bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, sales and use taxes, assessments, impact fees, revenue, contract payments, grants, or other district money, or any combination of those sources of money, to pay for any authorized district purpose.
(c) The limitation on the outstanding principal amount of bonds, notes, and other obligations provided by Section 49.4645, Water Code, does not apply to the district.
Added by Acts 2009, 81st Leg., R.S., Ch. 587 (S.B. 2467), 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 3877 - Waller Town Center Management District
Subchapter E. General Financial Provisions
Section 3877.201. Disbursements and Transfers of Money
Section 3877.202. Money Used for Improvements or Services
Section 3877.203. Petition Required for Financing Services and Improvements With Assessments
Section 3877.204. Method of Notice for Hearing
Section 3877.205. Assessments; Liens for Assessments
Section 3877.206. Utility Property Exempt From Impact Fees and Assessments
Section 3877.207. Residential Property
Section 3877.208. Operation and Maintenance Tax
Section 3877.209. Contract Taxes
Section 3877.210. Authority to Borrow Money and to Issue Bonds
Section 3877.211. Taxes for Bonds
Section 3877.212. Elections Regarding Taxes and Bonds