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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 I. WATER CONTROL AND IMPROVEMENT DISTRICTS |
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Chapter 9011. BELL COUNTY WATER CONTROL AND IMPROVEMENT DISTRICT NO. 3 |
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Subchapter F. BONDS |
Sec. 9011.251. AUTHORITY TO ISSUE BONDS
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(a) The district may issue bonds to carry out any purpose of this chapter and to:
(1) provide a water system, as authorized by this chapter, for municipal, domestic, and industrial purposes;
(2) pay fees of an attorney, engineer, or fiscal agent;
(3) pay the cost of printing and issuing bonds; and
(4) exercise any other power conferred by this chapter.
(b) The bonds must be authorized by a board resolution.
(c) Bonds issued by the district must be payable by a pledge of:
(1) revenue;
(2) ad valorem taxes imposed on all taxable property in the district; or
(3) both revenue and ad valorem taxes.
(d) The pledge must be in a resolution or trust indenture adopted or authorized by the board.
(e) A bond issuance payable wholly or partly from ad valorem taxes is subject to the conditions prescribed by this subchapter.