(a) The district may borrow money on terms and conditions as determined by the board. § 375.205, Local Government Code, does not apply to a loan, line of credit, or other borrowing from a bank or financial institution.
(b) The district may issue by competitive bid or negotiated sale bonds, notes, or other obligations payable wholly or partly from sales and use taxes, assessments, impact fees, revenue, contract payments, grants, or other district money, or any combination of those sources of money, to pay for any authorized district purpose.

(c) The limitation on the outstanding principal amount of bonds, notes, and other obligations provided by § 49.4645, Water Code, does not apply to the district.