- (a) The district may issue bonds or other obligations as provided by Chapters 49 and 51, Water Code, to finance the construction, maintenance, or operation of a project under Section 9014.101 or 9014.102.
- (b) The district may not issue bonds or other obligations to finance projects authorized by Section 9014.102 unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election called for that purpose.
- (c) Bonds or other obligations issued or incurred to finance projects authorized by Section 9014.102 may not exceed one-fourth of the assessed value of the real property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 503 (S.B. 401), Sec. 1, eff. September 1, 2007.