General Obligation Bond Election

Sec. 1020.253. GENERAL OBLIGATION BOND ELECTION. (a) The district may issue general obligation bonds only if the bonds are authorized by a majority of the district voters voting at an election held for that purpose. (b) The order calling the election shall provide for clerks as in county elections and must specify: (1) the date of the election; (2) the location of the polling places; (3) the presiding and alternate election judges for each polling place; (4) the amount of the bonds to be authorized; (5) the maximum maturity of the bonds; and (6) the maximum interest rate of the bonds. (c) Notice of a bond election shall be given as provided by Section 1251.003, Government Code. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.