Section 3906.255 - Bonds and Other Obligations; Municipal Approval(a) The district may issue by public or private sale bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, tax increment financing, or assessments in the manner provided by Subchapter A, Chapter 372, or Subchapter J, Chapter 375, Local Government Code.(b) In exercising the district's borrowing power, the district may issue a bond or other obligation in the form of a bond, note, certificate of participation or other instrument evidencing a proportionate interest in payments to be made by the district, or any other type of obligation.(c) In addition to the sources of money described by Chapter 311, Tax Code, Subchapter A, Chapter 372, and Subchapter J, Chapter 375, Local Government Code, district bonds may be secured and made payable, wholly or partly, by a pledge of any part of the money the district receives from system or improvement revenue or from any other source.Tex. Spec. Dist. Loc. Laws § 3906.255
Added by Acts 2011, 82nd Leg., R.S., Ch. 1269, Sec. 1, eff. 6/17/2011.