Sec. 3906.201. BORROWING MONEY. The district may borrow money for a district purpose by issuing or executing bonds, negotiable or nonnegotiable 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 any combination of ad valorem taxes, assessments, or any other district revenue or sources of money.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1269 (S.B. 1922), 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 3906 - Port Isabel Improvement District No. 1
Subchapter D. General Financial Provisions
Section 3906.201. Borrowing Money
Section 3906.202. General Powers Regarding Payment of District Bonds, Obligations, or Other Costs
Section 3906.204. Notice of Assessment
Section 3906.205. Storm Water User Charges
Section 3906.206. Nonpotable Water User Charges