Texas § SD.9015.354 - ELECTION FOR BONDS PAYABLE FROM AD VALOREM TAXES

§ SD.9015.354. ELECTION FOR BONDS PAYABLE FROM AD VALOREM TAXES

ELECTION FOR BONDS PAYABLE FROM AD VALOREM TAXES. (a) Bonds, other than refunding bonds, payable wholly or partly from ad valorem taxes may not be issued unless authorized by a majority of the authority voters voting at an election. (b) The board may order an election under this section without a petition. The order must specify: (1) the time and places at which the election will be held; (2) the purpose for which the bonds will be issued; (3) the maximum amount of the bonds; (4) the maximum maturity of the bonds; (5) the form of the ballot; and (6) the presiding judge for each voting place. (c) Notice of the election must be given by publishing a substantial copy of the order calling the election in a newspaper of general circulation in the authority. The notice must be published on the same day in each of two consecutive weeks. The first publication must be not later than the 14th day before the date of the election. If a newspaper of general circulation is not published in the authority, notice must be given by posting a copy of the resolution in three public places in the authority. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166 ), Sec. 1.12, eff. April 1, 2009. Renumbered from Special District Local Laws Code, Section 9009.354 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969 ), Sec. 27.001(85), eff. September 1, 2009.