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Section 9051.254. Election for Bonds Payable From Ad Valorem Taxes

TX Spec Dist Code § 9051.254 (2019) (N/A)
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Sec. 9051.254. 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 a majority of the district voters voting at an election.

(b) The board may order an election under this section without a petition. The order must specify:

(1) the time and places at which the election will be held;

(2) the purpose for which the bonds will be issued;

(3) the maximum amount of the bonds;

(4) the maximum maturity of the bonds;

(5) the maximum interest rate;

(6) the form of the ballot; and

(7) the presiding judge for each voting place.

(c) Notice of the election must be given by publishing a substantial copy of the order in a newspaper of general circulation in the district. The notice must be published once each week for two consecutive weeks. The first publication must be at least 14 days before the date of the election.

Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.

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