Tex. Spec. Dist. Local Laws Code Section 3875.114
Bonds

(a)

The district may issue bonds in the manner provided by Subchapter J (General Obligation and Revenue Bonds), Chapter 375 (Municipal Management Districts in General), Local Government Code. Sections 375.207 (Municipal Approval) and 375.208 (Commission Approval), Local Government Code, do not apply to bonds issued under this section.

(b)

If the district issues bonds for the primary purpose of providing water, sewage, or drainage facilities, the district must obtain the commission’s approval in the manner provided by Section 49.181 (Authority of Commission over Issuance of District Bonds), Water Code.

(c)

In addition to the sources of money described by Subchapter J (General Obligation and Revenue Bonds), Chapter 375 (Municipal Management Districts in General), Local Government Code, the bonds of the district may be secured and made payable, wholly or partly, by a pledge of any part of the net proceeds the district receives from the sales and use tax authorized by Section 3875.111 (Limited Sales and Use Tax) and the hotel occupancy tax authorized by Section 3875.112 (Hotel Occupancy Tax).
Added by Acts 2001, 77th Leg., Ch. 1204 (H.B. 3647), Sec. 1, eff. June 15, 2001.
Transferred and redesignated from Local Government Code, Chapter 385 by Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 21.001 (Definitions)(41), eff. September 1, 2015.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 21.002(24), eff. September 1, 2015.

Source: Section 3875.114 — Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3875.­htm#3875.­114 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 3875.114’s source at texas​.gov