Sec. 3887.152. 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 a district purpose. The bond, note, credit agreement, or other obligation must be secured by and payable from ad valorem taxes, assessments, or any combination thereof or from other district revenue.
Added by Acts 2009, 81st Leg., R.S., Ch. 1078 (H.B. 4755), 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 3887 - Guadalupe County Development and Management District
Subchapter D. General Financial Provisions
Section 3887.151. General Powers Regarding Financial Matters
Section 3887.152. Borrowing Money
Section 3887.153. Impact Fees and Assessments; Exemption
Section 3887.154. Residential Property Not Exempt
Section 3887.155. Maintenance and Operation Tax; Election
Section 3887.156. Use of Surplus Maintenance and Operation Money
Section 3887.157. Bonds and Other Obligations; Municipal Approval
Section 3887.158. Bond Maturity