Sec. 3911.252. 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 any combination of ad valorem taxes, assessments, or any other district revenue.
Added by Acts 2011, 82nd Leg., R.S., Ch. 587 (H.B. 3852), 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 3911 - Midlothian Municipal Management District No. 2
Subchapter D. General Financial Provisions
Section 3911.252. Borrowing Money
Section 3911.253. General Powers Regarding Payment of District Bonds, Obligations, or Other Costs
Section 3911.255. Impact Fees; Exemption
Section 3911.256. Nonpotable Water User Charges; City Approval