Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 3920.205 - Authority to Borrow Money and to Issue Bonds and Other Obligations(a) The district may borrow money on terms determined by the board. Section 375.205, Local Government Code, does not apply to a loan, line of credit, or other borrowing from a bank or financial institution secured by revenue other than ad valorem taxes.(b) The district may issue bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, assessments, impact fees, revenue, contract payments, grants, or other district money, or any combination of those sources of money, to pay for any authorized district purpose.Tex. Spec. Dist. Loc. Laws § 3920.205
Added by Acts 2013, 83rd Leg. - Regular Session, ch. 831,Sec. 1, eff. 6/14/2013.