Texas Water Code 58.798 – Notice of Election
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(a) The president and secretary of the board shall issue notice of the election, stating:
(1) the findings of the board with reference to the dissolution of the district;
(2) the amount of bonds to be issued;
(3) the interest rate on the bonds; and
(4) the time and place of the election.
(b) The notice also shall contain a statement of the estimates and the expenses incurred and to be incurred in the dissolution of the district and the collection of taxes for the payment of the bonds and shall state that the bonds will be payable by the levy of taxes on the taxable property in the district in proportion to the values of the property as provided in Section 58.804 of this code.
Terms Used In Texas Water Code 58.798
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Property: means real and personal property. See Texas Government Code 311.005
- Week: means seven consecutive days. See Texas Government Code 311.005
(c) The notice shall be published once a week for two consecutive weeks in a newspaper with general circulation in the county or counties in which any part of the district is located. The first publication shall be at least 14 days before the day of the election.