Sec. 3959.0204. BONDS SECURED BY REVENUE OR CONTRACT PAYMENTS. The district may issue, without an election, bonds secured by:
(1) revenue other than ad valorem taxes;
(2) contract payments, provided that the requirements of Section 49.108, Water Code, have been met; or
(3) other contract revenues.
Added by Acts 2021, 87th Leg., R.S., Ch. 985 (H.B. 4584), Sec. 1, eff. June 18, 2021.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3959 - Sterrett Road Municipal Management District
Section 3959.0201. Tax Election Required
Section 3959.0202. Operation and Maintenance Tax
Section 3959.0203. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3959.0204. Bonds Secured by Revenue or Contract Payments
Section 3959.0205. Bonds Secured by Ad Valorem Taxes; Elections