Sec. 9024.201. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations as provided by Chapters 49 and 51, Water Code, and to finance the construction, maintenance, or operation of projects under Sections 9024.101 and 9024.102.
(b) The district may not issue bonds to finance projects authorized by Section 9024.102 unless the issuance is approved by a vote of a two-thirds majority of district voters voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 9024.102 may not exceed one-fourth of the assessed value of the real property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 788 (H.B. 4010), Sec. 1, eff. September 1, 2007.
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