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Texas Water Code - WATER § 57.177. Financing the District Without Bonds

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

(a) If the district wants to carry out its purposes without issuing bonds, the board may arrange for contributions from landowners or other sources to provide the funds required to complete the improvements.

(b) The electors of the district may vote to create an indebtedness which is not evidenced by bonds.

(c) If the district creates an indebtedness under this section, the indebtedness may not be more than:

(1) the cost of construction of the improvements included in the engineer's report;

(2) the cost of maintaining the improvements for two years; and

(3) an additional amount equal to 10 percent to meet emergencies, modifications, and changes lawfully made, plus damages awarded against the district.

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Cite this article: FindLaw.com - Texas Water Code - WATER § 57.177. Financing the District Without Bonds - last updated January 01, 2024 | https://codes.findlaw.com/tx/water-code/water-sect-57-177/

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