Texas § HS.775.077 - ELECTION TO APPROVE BONDS AND NOTES

§ HS.775.077. ELECTION TO APPROVE BONDS AND NOTES

ELECTION TO APPROVE BONDS AND NOTES. (a) A district may not authorize bonds and notes secured in whole or in part by taxes unless a majority of the district's qualified voters who vote at an election ordered for that purpose approve the issuance of the bonds and notes. (b) The board may order an election on the bonds and notes. The order must contain the same information contained in the notice of the election. (c) The board shall publish notice of the election at least once in a newspaper of general circulation in the district. The notice must be published not later than the 31st day before election day. (d) In addition to the contents of the notice required by the Election Code, the notice must state: (1) the amount of bonds or notes to be authorized; and (2) the maximum maturity of the bonds or notes. (e) At an election to approve bonds or notes payable wholly from ad valorem taxes, the ballots must be printed to provide for voting for or against the following: "The issuance of (bonds or notes) and the levy of taxes for payment of the (bonds or notes)." (f) At an election to approve bonds or notes payable from both ad valorem taxes and revenues, the ballots must be printed to provide for voting for or against the following: "The issuance of (bonds or notes) and the pledge of net revenues and the levy of ad valorem taxes adequate to provide for the payment of the (bonds or notes)." Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.