Sec. 3981.0706. TAX OR BOND ELECTION. Before a new district created by the division of the district may impose an operation and maintenance tax under Section 3981.0502 or issue bonds payable wholly or partly from ad valorem taxes, the new district must hold an election as required by this chapter to obtain voter approval.
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
Subchapter G. Division of District Into Multiple Districts
Section 3981.0701. Division of District; Prerequisites
Section 3981.0702. Law Applicable to New District
Section 3981.0703. Limitation on Area of New District
Section 3981.0704. Division Procedures
Section 3981.0705. Directors' Election for New District
Section 3981.0706. Tax or Bond Election
Section 3981.0707. City Consent
Section 3981.0708. Operating Agreement and Project Agreement