Text of section effective on April 01, 2021
Sec. 5018.0203. ELECTION FOR BONDS PAYABLE FROM AD VALOREM TAXES. (a) Bonds, other than refunding bonds, payable wholly or partly from ad valorem taxes may not be issued unless authorized by an election called by the board at which a majority of the votes cast favor the bond issuance.
(b) Notice of the election must be given by publishing a substantial copy of the order calling the election in a newspaper of general circulation in the district on the same day in each of two successive weeks. The first publication must be not later than the 14th day before the date of the election. No other notice of the election is necessary.
(c) If the bonds are to be payable solely from taxes, the ballot must have printed on it "For the bonds and the levy of taxes in payment thereof" and the contrary of that proposition.
(d) If the bonds are to be payable both from net revenue and taxes, the ballot must have printed on it "For the bonds, the pledge of net revenues, and the levy of taxes adequate to provide for the payment thereof" and the contrary of that proposition.
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.01, eff. April 1, 2021.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
