Sec. 3971.0504. BONDS SECURED BY REVENUE OR CONTRACT PAYMENTS. The district may issue, without an election, bonds secured by:
(1) revenue other than ad valorem taxes, including contract revenues; or
(2) contract payments, provided that the requirements of Section 49.108, Water Code, have been met.
Added by Acts 2019, 86th Leg., R.S., Ch. 473 (H.B. 4694), Sec. 1, eff. June 7, 2019.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3971 - Sh130 Municipal Management District No. 1
Section 3971.0501. Tax Election Required
Section 3971.0502. Operation and Maintenance Tax
Section 3971.0503. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3971.0504. Bonds Secured by Revenue or Contract Payments
Section 3971.0505. Bonds Secured by Ad Valorem Taxes; Elections
Section 3971.0506. Bonds and Other Obligations for Improvement Under Agreement