Texas § SD.3947.203 - BORROWING MONEY
Full text of Texas The Texas Constitution § SD.3947.203 — BORROWING MONEY, with citation guidance and answers to common questions.
§ SD.3947.203. BORROWING MONEY
BORROWING MONEY; OBLIGATIONS. (a) The district may borrow money for a district purpose, including the acquisition or construction of improvement projects authorized by this chapter and the reimbursement of a person who develops or owns an improvement project authorized by this chapter, by issuing bonds, notes, time warrants, or other obligations, or by entering into a contract or other agreement payable wholly or partly from an assessment, a contract payment, a grant, revenue from a zone created under Chapter 311 or 312 , Tax Code, other district revenue, or a combination of these sources. (b) An obligation described by Subsection (a): (1) may bear interest at a rate determined by the board; and (2) may include a term or condition as determined by the board. (c) The board may issue an obligation under this section without an election. (d) The district may issue, by public or private sale, bonds, notes, or other obligations payable wholly or partly from assessments in the manner provided by Subchapter J , Chapter 375 , Local Government Code. (e) If the improvements financed by an obligation will be conveyed to or operated and maintained by a municipality or retail utility provider pursuant to an agreement between the district and the municipality or retail utility provider entered into before the issuance of the obligation, the obligation may be issued in the manner provided by Subchapter A , Chapter 372 , Local Government Code. Added by Acts 2017, 85th Leg., R.S., Ch. 656 (S.B. 2244 ), Sec. 1, eff. June 12, 2017.
Frequently Asked Questions About Texas § SD.3947.203
What does The Texas Constitution § SD.3947.203 cover?
Section SD.3947.203 ("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.3947.203?
A common citation format is "The Texas Constitution § SD.3947.203" (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.3947.203 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.