Texas § 3868.201 BORROWING MONEY; OBLIGATIONS.

Texas Statutes

§ 3868.201 — BORROWING MONEY; OBLIGATIONS.

Texas § 3868.201

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 3868.201 (2026).

Text

Sec. 3868.201. BORROWING MONEY; OBLIGATIONS.

(a)The district may borrow money for a district purpose by issuing bonds, notes, time warrants, or other obligations, or by entering into a contract 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.

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Sec. 3868.201. BORROWING MONEY; OBLIGATIONS. (a) The district may borrow money for a district purpose by issuing bonds, notes, time warrants, or other obligations, or by entering into a contract 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.