Special District Local Laws Code § 4015.0503

Sec. 4015.0503. AUTHORITY TO BORROW MONEY AND TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may borrow money on terms determined by the board. (b) The district may issue, by public or private sale, bonds, notes, or other obligations payable wholly or partly from ad valorem taxes, assessments, impact fees, revenue, contract payments, grants, or other district money, or any combination of those sources of money, to pay for any authorized district purpose. (c) The district may issue, by public or private sale, bonds, notes, or other obligations payable wholly or partly from assessments in the manner provided by Subchapter A, Chapter 372, Local Government Code, if the improvement financed by the obligation issued under this section will be conveyed to or operated and maintained by a municipality, county, or other retail utility provider pursuant to an agreement with the district entered into before the issuance of the obligation. Added by Acts 2025, 89th Leg., R.S., Ch. 1064 (S.B. 3047), Sec. 3(a), eff. September 1, 2025.