Sec. 54.811. PLEDGE OF FAITH AND CREDIT. If at an election, the voters approve the issuance of bonds and the levy of a tax that applies only to a designated area, the district may issue bonds that pledge only the faith and credit based on the property values in the defined area and may not pledge the full faith and credit of the district.
Added by Acts 1987, 70th Leg., ch. 600, Sec. 1, eff. Aug. 31, 1987.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 54 - Municipal Utility Districts
Subchapter J. Services for Certain Defined Areas and Designated Property
Section 54.801. Authority to Establish Defined Areas or Designated Property
Section 54.802. Defining Area and Designating Property to Be Benefited by Improvements
Section 54.804. Order Adopting Plans for Defined Area or Designated Property
Section 54.806. Procedure for Election
Section 54.809. Issuance of Bonds and Imposition of Tax for Defined Area or Designated Property
Section 54.810. Limitation on Other Bond Authorizations
Section 54.811. Pledge of Faith and Credit
Section 54.812. Notice to Purchasers
Section 54.813. Municipality's Authority Regarding Defined Area