Sec. 3911.305. BONDS AND OTHER OBLIGATIONS; MUNICIPAL APPROVAL. (a) The district by competitive bid or negotiated sale may issue 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 to be made by the district, or any 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 money the district receives from system or improvement revenue or from any other source.
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
Section 3911.301. Property Tax Authorized
Section 3911.302. Maintenance and Operation Tax; Election
Section 3911.303. Use of Surplus Maintenance and Operation Money
Section 3911.304. Tax Abatement
Section 3911.305. Bonds and Other Obligations; Municipal Approval
Section 3911.306. Bond Maturity
Section 3911.307. Taxes for Bonds and Other Obligations; Election
Section 3911.308. Issuer Powers for Certain Public Improvements