Sec. 55.402. BOND ELECTION. The district may issue negotiable revenue bonds with a total par value of not more than $100,000 without the necessity of holding an election, but it may not issue bonds with a total par value of more than $100,000 unless the bond issue is approved at an election held under the law governing bond elections.

Acts 1971, 62nd Leg., p. 459, ch. 58, Sec. 1, eff. Aug. 30, 1971.