Sec. 3944.161. AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may borrow money on terms determined by the board.
(b) The district may by competitive bid or negotiated sale issue bonds, notes, or other obligations payable wholly or partly from taxes, including ad valorem taxes, or assessments, fees, revenue, contract payments, grants, or other district money, or any combination of those sources of money, to pay for any authorized district purpose.
(c) In addition to any other terms authorized by the board by bond order or resolution, the proceeds of the district's bonds may be used for a reserve fund, credit enhancement, or capitalized interest for the bonds.
(d) The limitation on the outstanding principal amount of bonds, notes, and other obligations provided by Section 49.4645, Water Code, does not apply to the district.
Added by Acts 2017, 85th Leg., R.S., Ch. 77 (H.B. 2332), Sec. 1, eff. May 23, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3944 - Brazoria County Management District No. 1
Subchapter D. General Financial Provisions; Assessments
Section 3944.151. Disbursements and Transfers of Money
Section 3944.152. Money Used for Improvements or Services
Section 3944.153. Petition Required for Financing Services and Improvements With Assessments
Section 3944.154. Method of Notice for Hearing
Section 3944.155. Assessments; Liens for Assessments
Section 3944.156. Tax and Assessment Abatements
Section 3944.157. Utility Property Exempt From Assessments
Section 3944.158. Residential Property
Section 3944.159. Operation and Maintenance Tax
Section 3944.160. Contract Taxes
Section 3944.161. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3944.162. Taxes for Bonds
Section 3944.163. Elections Regarding Taxes and Bonds
Section 3944.164. Municipality Not Required to Pay District Obligations