Texas § SD.5010.0501 - AUTHORITY TO ISSUE BONDS
Full text of Texas The Texas Constitution § SD.5010.0501 — AUTHORITY TO ISSUE BONDS, with citation guidance and answers to common questions.
§ SD.5010.0501. AUTHORITY TO ISSUE BONDS
AUTHORITY TO ISSUE BONDS; ELECTION; TAXES FOR BONDS. (a) The district may issue bonds when the board finds that the bonds are necessary by an order entered of record in the board's minutes. The district may issue bonds to obtain money for any lawful purpose provided for in this chapter that the board considers necessary. (b) The board shall direct the district engineer to prepare an estimate of the cost of necessary repairs, extensions, or additional improvements, together with all expenses incident to those repairs, extensions, or additional improvements, or the board on the board's own motion may prepare such an estimate. (c) The board shall order an election to be held to determine whether district bonds shall be issued in an amount sufficient to pay the costs and expenses contained in the estimate prepared under Subsection (b). The election shall be held in accordance with Chapter 1251 , Government Code. The board shall perform the duties and do all acts and things provided to be done by the governing body of a municipality, as provided by that chapter. The ballots at the election shall be printed as required by Chapter 1251 , Government Code. (d) If bonds have been voted, the board shall impose an annual ad valorem tax on all taxable property in the district sufficient to: (1) pay the interest on the bonds; (2) create a sinking fund to redeem and discharge the bonds at maturity; and (3) pay the expense of imposing the tax. Added by Acts 2019, 86th Leg., R.S., Ch. 495 (H.B. 4666 ), Sec. 1, eff. September 1, 2019.
Frequently Asked Questions About Texas § SD.5010.0501
What does The Texas Constitution § SD.5010.0501 cover?
Section SD.5010.0501 ("AUTHORITY TO ISSUE BONDS") 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.5010.0501?
A common citation format is "The Texas Constitution § SD.5010.0501" (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.5010.0501 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.