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Texas Statutes (Last Updated: January 4, 2014) |
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SPECIAL DISTRICT LOCAL LAWS CODE |
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Title 6. WATER AND WASTEWATER |
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Subtitle F. MUNICIPAL UTILITY DISTRICTS |
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Chapter 8129. CITY OF FORT WORTH MUNICIPAL UTILITY DISTRICT NO. 1 OF DENTON COUNTY |
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Subchapter E. BONDS |
Sec. 8129.201. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS
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(a) The district may issue bonds or other obligations as provided by Chapters 49 and 54, Water Code, to finance the construction, maintenance, or operation of projects under Sections 8129.101 and 8129.102.
(b) The district may not issue bonds to finance projects authorized by Section 8129.102 unless the issuance is approved by a vote of a two-thirds majority of the voters of the district voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 8129.102 may not exceed one-fourth of the assessed value of the real property in the district.
(d) Sections 49.181 and 49.182, Water Code, do not apply to a project undertaken by the district under Section 8129.102 or to bonds issued by the district to finance the project.