Texas Special District Local Laws Code 1084.203 – Election for General Obligation Bonds
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(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 the election on its own motion.
Terms Used In Texas Special District Local Laws Code 1084.203
- 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 election shall be conducted in accordance with Chapter 1251, Government Code.