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Texas Special District Local Laws Code - SDLL § 3902.253. Borrowing Money; Obligations

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The district may borrow money for a district purpose without holding an election by issuing bonds, notes, time warrants, or other obligations, or by entering into a contract or other agreement payable wholly or partly from an assessment, a contract payment, a grant, revenue from a zone created under Chapter 311 or 312, Tax Code, other district revenue, or a combination of these sources.

(b) An obligation described by Subsection (a):

(1) may bear interest at a rate determined by the board; and

(2) may include a term or condition as determined by the board.

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Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 3902.253. Borrowing Money; Obligations - last updated January 01, 2024 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-3902-253/

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