Texas Special District Local Laws Code 1008.253 – General Obligation Bond Election
Current as of: 2024 | Check for updates
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(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 for that purpose.
(b) The board must specify in the order calling the election:
(1) the date of the election;
(2) the location of the polling places;
(3) the presiding and alternate election judges for each polling place;
(4) the amount of the bonds to be authorized; and
(5) the maximum maturity of the bonds.
Terms Used In Texas Special District Local Laws Code 1008.253
- 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.
(c) Notice of a bond election shall be given as provided by Section 1251.003, Government Code.
(d) Chapter 41, Election Code, does not apply to an election held under this section.
(e) The board shall declare the results of the election.