Texas § GV.1471.017 - HEARING ON AND DETERMINATION OF PETITION

§ GV.1471.017. HEARING ON AND DETERMINATION OF PETITION

HEARING ON AND DETERMINATION OF PETITION: PRECINCT OR ROAD DISTRICT. (a) At the hearing on a petition submitted under Section 1471.016 , the commissioners court shall hear all matters pertaining to the proposed bond election. Any interested person may appear before the court in person or by attorney and contend for or protest the calling of the proposed bond election. (b) The commissioners court may order that an election be held in the commissioners or justice precinct or road district on the issue submitted in the petition if the court finds that: (1) the petition is signed by the proper number of qualified persons; (2) the required notice has been given; and (3) the proposed improvements would benefit all taxable property in the precinct or district. (c) The commissioners court may change the amount of bonds proposed to be issued if at the hearing the court finds the change is necessary or desirable. (d) The proposition submitted at the election must specify: (1) the purpose for which the bonds are to be issued; (2) the amount of the bonds; (3) the rate of interest; and (4) that ad valorem taxes are to be imposed annually on all taxable property in the precinct or district in an amount sufficient to pay the annual interest and provide a sinking fund to pay the bonds at maturity. (e) A proposition meets the requirements of this chapter if it is in the following form: "Authorizing the (name of precinct or district) to issue its bonds in the total sum of $__________ and to impose annually ad valorem taxes on all taxable property in the (precinct or district) to pay the interest on the bonds and create a sinking fund to redeem the principal at maturity for the purposes of the purchase or acquisition of roads and the construction, maintenance, and operation of macadamized, graveled, or paved roads and turnpikes or in aid of those purposes inside or outside the boundaries of the (precinct or district)." Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.