Contracts Secured By Ad Valorem Taxes

Sec. 3816.155. CONTRACTS SECURED BY AD VALOREM TAXES. A contract for which the payments are secured wholly or partly by ad valorem taxes may not be executed unless the imposition of the ad valorem taxes to secure the payment of the contract is approved by a majority, or a larger percentage if constitutionally required, of the voters in the district voting at an election held for that purpose. Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.