(a) A district may issue additional bonds or create additional indebtedness:
(1) if works, improvements, and facilities constructed under a plan provided in Section 58.440 or 58.452 of this code are inadequate to accomplish the beneficial results which the district's
location and conditions demand;
(2) if it is considered necessary to make repairs, replacements, or additions to the
district's improvements which cost more than $25,000; or
(3) if additional money is needed to complete the improvements as planned.
(b) The district shall provide the additional money for the particular purpose in
accordance with the provisions of this chapter regulating the creation of bond obligations
subject to every limitation with respect to the original proceedings and the substantial
protection of the substantive rights of holders of any of the district's outstanding
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 or via Westlaw before relying on it for your legal needs.
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