Current as of April 14, 2021 | Updated by FindLaw Staff
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(a) The district may issue, without an election, bonds and other obligations secured by:
(1) revenue other than ad valorem taxes; or
(2) contract payments described by Section 8041.0403.
(b) The district must hold an election in the manner provided by Chapters 49 and 54, Water Code, to obtain voter approval before the district may impose an ad valorem tax or issue bonds payable from ad valorem taxes.
(c) The district may not issue bonds payable from ad valorem taxes to finance a road project unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election held for that purpose.
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 8041.0401. Elections Regarding Taxes or Bonds - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-8041-0401.html
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