Sec. 3875.114. BONDS. (a) The district may issue bonds in the manner provided by Subchapter J, Chapter 375, Local Government Code. Sections 375.207 and 375.208, 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, Water Code.
(c) In addition to the sources of money described by Subchapter J, Chapter 375, 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 and the hotel occupancy tax authorized by Section 3875.112.
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(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.
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