Texas § 61.238 ADDITIONAL BOND ISSUE.

Texas Statutes

§ 61.238 — ADDITIONAL BOND ISSUE.

Texas § 61.238

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Bluebook

Tex. Water Code Code Ann. § 61.238 (2026).

Text

Sec. 61.238. ADDITIONAL BOND ISSUE.

(a)If the proceeds of the original bonds are insufficient to complete the proposed improvements or construction, or if the commission decides to undertake further construction or improvements or requires additional funds with which to maintain the existing improvements, it shall certify to the commissioners court the necessity for an additional bond issue, stating:

(1)the amount required;

(2)the purpose of the additional bonds;

(3)the rate of interest on the bonds; and

(4)the term of the bonds.

(b)The commissioners court, on receipt of this information, shall issue the bonds, unless the amount previously authorized has been exhausted, in which case the commissioners court shall first order an election on the issuance of the bonds to be held inside

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Sec. 61.238. ADDITIONAL BOND ISSUE. (a) If the proceeds of the original bonds are insufficient to complete the proposed improvements or construction, or if the commission decides to undertake further construction or improvements or requires additional funds with which to maintain the existing improvements, it shall certify to the commissioners court the necessity for an additional bond issue, stating:
(1) the amount required;
(2) the purpose of the additional bonds;
(3) the rate of interest on the bonds; and
(4) the term of the bonds.
(b) The commissioners court, on receipt of this information, shall issue the bonds, unless the amount previously authorized has been exhausted, in which case the commissioners court shall first order an election on the issuance of the bonds to be held inside the district at the earliest possible legal time.
(c) The ballots for the issuance of additional bonds shall be printed to provide for voting for or against the proposition: "The issuance of bonds and the levy of a tax to pay for the bonds."