Sec. 3976.0506. 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 2021, 87th Leg., R.S., Ch. 768 (H.B. 4659), Sec. 2, eff. June 15, 2021.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3976 - City of Kemah Municipal Management District No. 1
Section 3976.0503. Tax Election Required
Section 3976.0504. Operation and Maintenance Tax
Section 3976.0505. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3976.0506. Bonds Secured by Revenue or Contract Payments
Section 3976.0507. Bonds Secured by Ad Valorem Taxes; Elections