78th Texas Legislature, Regular Session, House Bill 1541, Chapter 248 Page: 10 of 42
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H.B. No. 1541
1 (1) part of the proposition or propositions to be
2 voted on; or
3 (2) a contract with the voters.
4 SECTION 11. Sections 49.153(a) and (e), Water Code, are
5 amended to read as follows:
6 (a) The board, without the necessity of an election, may
7 borrow money on negotiable or nonnegotiable notes of the district
8 to be paid solely from the revenues derived from the ownership of
9 all or any designated part of the district's works, plants,
10 improvements, facilities, or equipment after deduction of the
11 reasonable cost of maintaining and operating the facilities.
12 (e) Subsection (c) does not apply to:
13 (1) a note issued to and approved by the:
14 (A) Farmers Home Administration;
15 (B) United States Department of Agriculture;
16 [o-]
17 (C) Texas Water Development Board; or
18 (D) North American Development Bank; or
19 (2) a district described by Section 49.181(h).
20 SECTION 12. Section 49.181(a), Water Code, is amended to
21 read as follows:
22 (a) A district may not issue bonds unless the commission
23 determines that the project to be financed by the bonds is feasible
24 and issues an order approving the issuance of the bonds. This
25 section does not apply tol
26 (1) refunding bonds if the commission issued an order
27 approving the issuance of the bonds or notes that originally10
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Texas. Legislature. House of Representatives. 78th Texas Legislature, Regular Session, House Bill 1541, Chapter 248, legislative document, June 18, 2003; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth158202/m1/10/: accessed April 27, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.