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Texas Special District Local Laws Code - SDLL § 7807.207. Bond Anticipation Notes and Preliminary Bonds

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

(a) The district may issue either bond anticipation notes or preliminary bonds, which need not be designated as such, to provide a fund to pay:

(1) the cost of making surveys and investigations, attorneys' fees, and engineers' work;

(2) the cost of issuing bonds; and

(3) all other costs and expenses incident to the organization of the district and the district's operation in investigating and determining plans for the district's plant and improvements.

(b) Preliminary bonds shall be voted and authorized in the manner and under the same provisions applicable to the district's construction bonds and shall be of equal dignity with those construction bonds.

(c) The district may issue bond anticipation notes as provided by Section 49.154(c), Water Code. These notes shall be sold on the best terms and for the best price possible. (Acts 64th Leg., R.S., Ch. 201, Secs. 7(d) (part), (e) (part).)

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Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 7807.207. Bond Anticipation Notes and Preliminary Bonds - last updated January 01, 2024 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-7807-207/

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