- (a) The district by resolution may authorize the issuance of bonds payable from and secured by revenue or any other available source of district money to carry out a power conferred by this chapter. Bonds issued by the district are not a direct obligation of any member.
- (b) The bonds must be issued in the manner and under the terms of the proceedings authorizing the issuance of the bonds.
- (c) Bonds may be issued by the district without an election.
- (d) Sections 49.181-49.186, Water Code, do not apply to the district.
Added by Acts 2009, 81st Leg., R.S., Ch. 523 (S.B. 1223), Sec. 1, eff. June 19, 2009.