Text of section effective on April 01, 2021
Sec. 9075.0063. AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) For the benefit of the defined area, the district may borrow money on terms determined by the governing body of the district.
(b) The district may issue bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, impact fees, revenue, grants, or other district money, or any combination of those sources of money from the defined area, to pay for any authorized district purpose.
(c) The limitation on the outstanding principal amount of bonds, notes, and other obligations provided by Section 49.4645, Water Code, does not apply to the district.
(d) The district must obtain approval from the Texas Commission on Environmental Quality as provided by Chapter 49, Water Code, before the district issues bonds to provide water, sewer, or drainage facilities for the benefit of the defined area.
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.05, eff. April 1, 2021.
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