The Laws of Texas, 1921 [Volume 21] Page: 17 of 1,670
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GENERAL LAWS. 9
WATER IMPROVEMENT AND IRRIGATION DISTRICTSAMENDING
ACT PROVIDING FOR THE ORGANIZATION
AND GOVERNMENT OF.
S. B. No. 14.] CHAPTER 6.
An Act to amend Chapter Eighty-seven, General Acts of the Regular Session
of the Thirty-fifth Legislature, providing for organization and government
of water improvement and irrigation districts, as amended by subsequent
statutes, by adding to said statute new sections to be. known as Sections
Nos. 138 and 139 relating to the power of water improvement and irrigation
districts organized under the conservation amendment to incur debt
and issue bonds, and validating proceedings of districts heretofore had,
and declaring an emergency.
Be it enacted by the Legislature of the State of Texas:
SECTION 1. There shall be added to Chapter 87, General Acts of
the Thirty-fifth Legislature, Regular Session, providing for the organization
and government of Water Improvement Districts, certain
additional provisions to be known as Section 138 and 139 as follows,
Section 138.The Board of Directors of any Water Improvement District
which has been or shall be constituted a Conservation and Reclamation
District under the provisions of Section 59, of Article XVI,
of the Constitution, may, for the benefit of the purchasers or holders
of bonds to be issued, limit the power of the District to incur debt
and issue bonds in the manner and to the extent hereinafter mentioned.
Said Board may adopt a resoution declaring that during
a period not exceeding ten years, the District shall not issue bonds
in excess of twenty-five per cent of the assessed value of the taxable
real property of the District according to the last assessment for District
purposes, and shall give notices of the adoption of such resolution
by publication once a week for two successive weeks in a newspaper
published in the District, stating that such resolution shall take effect
unless a petition signed by ten per cent of the qualified property
tax paying electors of the District shall be presented against the proposed
limitation within thirty days after the date of the first publication
of such notice. If such petition or remonstrance be filed within
said period, said limitation shall not take effect unless it be approved
at a general or special election held in the District in the same
manner as other general or special elections are held. The ballot
on the question at such election shall be in substantially the following
form: "For limiting during the term of ...... years, the maximum
debt of the District to twenty-five per cent of the assessed
valuation of the real property," and "Against limiting during the
term of....... years, the maximum debt of the District to twentyfive
per cent of the assessed valuation of the real property." If such
limitation shall be approved or if during said period no petition or
remonstrance shall be filed, the District shall not issue bonds under
any statute or constitutional provision during said term in excess of
the amount so limited, except to complete works for constructing
which bonds may be issued within said limitation, and shall only
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1921 [Volume 21], book, 1921; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth14933/m1/17/: accessed July 24, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .