Sec. 3952.252. 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 2017, 85th Leg., R.S., Ch. 645 (H.B. 4347), Sec. 1, eff. June 12, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3952 - Midlothian Municipal Management District No. 3
Subchapter F. General Financial Provisions
Section 3952.252. Borrowing Money
Section 3952.253. General Powers Regarding Payment of District Bonds, Obligations, or Other Costs
Section 3952.254. Petition Required for Financing Services and Improvements With Assessments
Section 3952.256. Nonpotable Water User Charges; City Approval