Sec. 53.171. POWER TO ISSUE BONDS. (a) A district may issue bonds to secure indebtedness for any purpose authorized by this chapter, Chapter 49, or other applicable laws.
(b) A district may not issue tax bonds or incur any debt which is to be paid with tax revenue unless an election is first held in the district and the proposition is approved by a majority of the electors of the district who vote in the election.
Acts 1971, 62nd Leg., p. 414, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 635 (H.B. 713), Sec. 2, eff. September 1, 2007.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 53 - Fresh Water Supply Districts
Subchapter F. Bond and Tax Provisions
Section 53.171. Power to Issue Bonds
Section 53.172. Ordering Bond Election
Section 53.177. Approving Bonds
Section 53.178. Registering Bonds
Section 53.180. Recording of Bond Issues
Section 53.181. Paying Bonds and Interest
Section 53.182. Bonds Payable From Revenues and Ad Valorem Taxes
Section 53.183. Election Required
Section 53.184. Refunding Bonds
Section 53.185. Rates and Charges
Section 53.186. Interest and Sinking Fund
Section 53.187. Investment of Sinking Fund