(a) The district may issue general obligation bonds only if the bonds are authorized by a majority of the voters voting at an election held according to the law relating to municipal bonds.
(b) The governing body shall call the election at the request of the board and may also call the election on its own motion.

Terms Used In Texas Special District Local Laws Code 1001.353

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005

(c) The person charged with conducting and arranging citywide elections is responsible for conducting the bond election.
(d) The district shall pay the cost of a bond election. The district must provide for the payment of election costs before the governing body is required to order an election.

  Previous section
Next section  
 Subchapter H Contents