- (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 projects under Section 9025.051.
- (b) The district may not issue bonds authorized for a project under Section 9025.051 unless the issuance is approved by a vote of a two-thirds majority of the voters of the district voting at an election called for that purpose.
- (c) Bonds or other obligations issued or incurred to finance projects authorized by Section 9025.051 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. 967 (H.B. 4101), Sec. 1, eff. September 1, 2007.