Sec. 9001.202. LIMIT ON BONDS AND OTHER OBLIGATIONS

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(a) Bonds, notes, or other obligations issued or incurred by the district under Section 53.029, Water Code, may not exceed one-fourth of the assessed value of the real property in the district.
(b) The district may not issue bonds until a development agreement between the City of Celina and the district has been signed.

Added by Acts 2005, 79th Leg., Ch. 446 , Sec. 1, eff. June 17, 2005.

                    
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