Sec. 56.202. ISSUANCE OF BONDS. When maps, profiles, and estimates are filed, the board shall issue an order directing the issuance of bonds sufficient to pay for proposed improvements together with necessary, actual, and incidental expenses. The bonds may not be issued in an amount greater than the amount specified in the order and notice of election, and in districts operating under Article III, Section 52, of the Texas Constitution, the bonds may not be issued in an amount greater than one-fourth of the assessed valuation of the real property of the district.
Acts 1971, 62nd Leg., p. 516, ch, 58, Sec. 1, eff. Aug. 30, 1971. Amended by Acts 2001, 77th Leg., ch. 298, Sec. 7, eff. Sept. 1, 2001.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 56 - Drainage Districts
Subchapter F. Issuance of Bonds and Notes
Section 56.201. Authority to Issue Bonds
Section 56.202. Issuance of Bonds
Section 56.203. Record Book for Bonds
Section 56.204. Bonds: Requisites
Section 56.205. Bonds: Approval
Section 56.209. Use of Unsold Bonds for Maintenance Purposes
Section 56.210. Refunding Bonds
Section 56.211. Refunding Bond Election
Section 56.212. Approval and Issuance of Refunding Bonds
Section 56.213. Tax Anticipation Notes; Bond Anticipation Notes