(a) The district may issue general obligation bonds only if the bonds are authorized by a majority of the district voters voting at an election held for that purpose.
(b) The board may order a bond election.

Terms Used In Texas Special District Local Laws Code 1082.203

  • 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) The order calling the election must specify:
(1) the nature and date of the election;
(2) the hours during which the polls will be open;
(3) the location of the polling places;
(4) the amount of the bonds to be authorized; and
(5) the maximum maturity of the bonds.
(d) Notice of a bond election shall be given as provided by Section 1251.003, Government Code.
(e) The board shall declare the results of the election.

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