Sec. 3981.0504. 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. 1266 (H.B. 4693), Sec. 1, eff. June 14, 2019.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3981 - Cole Ranch Improvement District No. 1 of Denton County, Texas
Section 3981.0501. Tax Election Required
Section 3981.0502. Operation and Maintenance Tax
Section 3981.0503. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3981.0504. Bonds Secured by Revenue or Contract Payments
Section 3981.0505. Bonds Secured by Ad Valorem Taxes; Elections
Section 3981.0506. City Not Required to Pay District Obligations