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Texas Special District Local Laws Code - SDLL § 1002.303. General Obligation Bond Election

Current as of April 14, 2021 | Updated by FindLaw Staff

(a) The district may issue general obligation bonds only if the bonds are authorized by a majority of the voters voting in an election held for that purpose.

(b) The board may call the election on its own motion.  The order calling the election must specify:

(1) the date of the election;

(2) the place or places where the election will be held;

(3) the names of the presiding election officers;

(4) the purpose for which the bonds are to be issued;

(5) the amount of the bonds;

(6) the maximum interest rate of the bonds;  and

(7) the maximum maturity of the bonds, which may not exceed 40 years from the date of issuance.

(c) Notice of a bond election shall be given by publishing a substantial copy of the order calling the election in a newspaper of general circulation in the district as provided by Section 4.003(a)(1), Election Code.

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Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 1002.303. General Obligation Bond Election - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-1002-303.html

Read this complete Texas Special District Local Laws Code - SDLL § 1002.303. General Obligation Bond Election on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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