Sec. 3897.253. AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS. (a) The district may borrow money on terms 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, 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.
Added by Acts 2011, 82nd Leg., R.S., Ch. 656 (S.B. 1184), 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 3897 - Timber Springs Municipal Management District
Subchapter D. General Financial Provisions
Section 3897.252. Elections Regarding Taxes and Bonds
Section 3897.253. Authority to Borrow Money and to Issue Bonds
Section 3897.255. Petition Required for Financing Services and Improvements With Assessments
Section 3897.256. Impact Fees; Exemption
Section 3897.257. Storm Water User Charges
Section 3897.258. Nonpotable Water User Charges