Sec. 3895.158. BONDS AND OTHER OBLIGATIONS; MUNICIPAL APPROVAL. (a) Except as provided by Sections 3895.157 and 3895.161, the district may issue, by competitive bid or negotiated sale, bonds, notes, or other obligations payable wholly or partly from ad valorem taxes or assessments in the manner provided by Subchapter A, Chapter 372, or Subchapter J, Chapter 375, Local Government Code.
(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.
(c) In addition to the sources of money described by Subchapter A, Chapter 372, and Subchapter J, Chapter 375, Local Government Code, district bonds may be secured and made payable wholly or partly by a pledge of any part of the net proceeds the district receives from any other district revenue.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1203 (S.B. 233), Sec. 1, eff. June 17, 2011.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3895 - Rowlett Pecan Grove Management District
Subchapter D. General Financial Provisions
Section 3895.151. General Powers Regarding Financial Matters
Section 3895.152. Borrowing Money
Section 3895.153. Impact Fees and Assessments; Exemption
Section 3895.154. Certain Residential Property Not Exempt
Section 3895.155. Maintenance and Operation Tax; Election
Section 3895.156. Use of Surplus Maintenance and Operation Money
Section 3895.157. Bond Issuance Plan Required Before Issuing Bonds
Section 3895.158. Bonds and Other Obligations; Municipal Approval
Section 3895.159. Bond Maturity
Section 3895.160. Taxes for Bonds and Other Obligations
Section 3895.162. City Not Required to Pay District Obligations