Sec. 3891.158. ELECTIONS REGARDING TAXES AND BONDS. (a) The district may issue, without an election, bonds, notes, and other obligations secured by revenue or contract payments from any source other than ad valorem taxes.
(b) The district must hold an election in the manner provided by Chapters 49 and 54, Water Code, to obtain voter approval before the district may impose an ad valorem tax or issue bonds payable from ad valorem taxes.
(c) The district may not issue bonds payable from ad valorem taxes to finance a road project unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election held for that purpose.
Added by Acts 2009, 81st Leg., R.S., Ch. 1102 (H.B. 4829), 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 3891 - Harris-Montgomery Counties Management District
Subchapter D. General Financial Provisions
Section 3891.151. Operation and Maintenance Tax
Section 3891.152. Contract Taxes
Section 3891.153. Authority to Issue Bonds and Other Obligations
Section 3891.154. Hotel Occupancy Tax
Section 3891.155. Sales and Use Tax
Section 3891.156. Taxes for Bonds
Section 3891.157. Bonds for Road Projects
Section 3891.1571. Bonds for Recreational Facilities