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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Bonds, other than refunding bonds, payable wholly or partly from ad valorem taxes may not be issued unless authorized by a majority of the district voters voting at an election held for that purpose.
(b) The board may call an election under this section without a petition. The resolution calling the election must specify:
(1) the time and place at which the election will be held;
(2) the purpose for which the bonds will be issued;
(3) the amount of the bonds;
(4) the form of the ballot; and
(5) other matters the board considers necessary or advisable.
(c) Notice of the election must be given by publishing a substantial copy of the resolution calling the election in a newspaper of general circulation in the district. The notice must be published once each week for two consecutive weeks. The first publication must be not later than the 14th day before the date of the election.
(d) The district may issue bonds not payable wholly or partly from ad valorem taxes without an election. (Acts 63rd Leg., R.S., Ch. 619, Secs. 17(a) (part), (b).)
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 11005.254. Election for Bonds Payable from Ad Valorem Taxes - last updated January 01, 2024 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-11005-254/
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 before relying on it for your legal needs.
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