Texas § SD.3884.152 - BORROWING MONEY
Full text of Texas The Texas Constitution § SD.3884.152 — BORROWING MONEY, with citation guidance and answers to common questions.
§ SD.3884.152. BORROWING MONEY
BORROWING MONEY. (a) The district may borrow money for a district purpose by issuing or executing bonds, notes, credit agreements, or other obligations of any kind found by the board to be necessary or appropriate for any district purpose. The bond, note, credit agreement, or other obligation may be secured by and payable from ad valorem taxes, assessments, a combination of ad valorem taxes and assessments, or other district revenue. The governing body of the city must approve the issuance of bonds, notes, credit agreements, or other obligations of the district, in general terms before the preparation of preliminary official statements or loan closing documents, as provided by the development and operating agreement approved by the city in accordance with Section 3884.160 , or by separate action. (b) The governing body of the city must approve the final terms of the bond issuance, note, or credit facility, including the principal amount, note amount, interest rate or rates, redemption provisions, and other terms and conditions relating to the issuance. (c) The district shall file annual audited financial statements with the city's secretary. Added by Acts 2009, 81st Leg., R.S., Ch. 866 (S.B. 2501 ), Sec. 1, eff. June 19, 2009.
Frequently Asked Questions About Texas § SD.3884.152
What does The Texas Constitution § SD.3884.152 cover?
Section SD.3884.152 ("BORROWING MONEY") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § SD.3884.152?
A common citation format is "The Texas Constitution § SD.3884.152" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § SD.3884.152 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.