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Section 1065.203. General Obligation Bond Election

TX Spec Dist Code § 1065.203 (2019) (N/A)
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Sec. 1065.203. GENERAL OBLIGATION BOND ELECTION. (a) The district may issue general obligation bonds only if the bonds are authorized by a majority of the district voters voting at an election.

(b) The board may call the election on its own motion.

(c) The order calling the election must specify:

(1) the date of the election;

(2) the location of the polling places;

(3) the presiding election officers;

(4) the purpose of the bond issuance;

(5) the amount of the bonds to be authorized;

(6) the maximum interest rate of the bonds; and

(7) the maximum maturity of the bonds.

(d) Notice of a bond election shall be given by publishing a substantial copy of the order calling the election in a newspaper of general circulation in Motley County once each week for two consecutive weeks before the date of the election. The first publication must occur at least 14 days before the date of the election.

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

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