Title SD, Special District Local Laws Code

Sec. 1020.210. SPENDING AND INVESTMENT RESTRICTIONS. (a) Except as provided by Section 1020.108(c) and Subchapter F, the district may not incur an obligation payable from district revenue other than the revenue on hand or to be on hand in the current and following district fiscal…

Sec. 1020.251. GENERAL OBLIGATION BONDS. The board may issue and sell general obligation bonds in the name and on the faith and credit of the district for any purpose relating to: (1) the purchase, construction, acquisition, repair, or renovation of buildings or improvements; and…

Sec. 1020.252. TAX TO PAY GENERAL OBLIGATION BONDS. (a) At the time general obligation bonds are issued by the district under Section 1020.251, the board shall impose an ad valorem tax at a rate sufficient to create an interest and sinking fund to pay the principal of and interes…

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 i…

Sec. 1020.254. REVENUE BONDS. (a) The board may issue revenue bonds to: (1) purchase, construct, acquire, repair, renovate, or equip buildings or improvements for hospital, medical, or health care purposes; or (2) acquire sites to be used for hospital, medical, or health care pur…

Sec. 1020.255. REFUNDING BONDS. (a) The board may issue refunding bonds to refund outstanding indebtedness issued or assumed by the district. (b) A refunding bond may be: (1) sold, with the proceeds of the refunding bond applied to the payment of outstanding indebtedness; or (2) …

Sec. 1020.256. MATURITY OF BONDS. District bonds must mature not later than 40 years after the date of issuance. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Sec. 1020.257. EXECUTION OF BONDS. (a) The board president shall execute district bonds in the district's name. (b) The board secretary shall countersign the bonds in the manner provided by Chapter 618, Government Code. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Se…

Sec. 1020.258. BONDS EXEMPT FROM TAXATION. The following are exempt from taxation by this state or a political subdivision of this state: (1) bonds issued by the district; (2) the transfer and issuance of the bonds; and (3) profits made in the sale of the bonds. Added by Acts 200…

Sec. 1020.301. IMPOSITION OF AD VALOREM TAX. (a) The board shall impose a tax on all property in the district subject to district taxation. (b) The board shall impose the tax to: (1) pay the interest on and create a sinking fund for bonds or other obligations issued or assumed by…

Sec. 1020.302. TAX RATE. (a) The board may impose the tax at a rate not to exceed 50 cents on each $100 valuation of the taxable property in the district, unless the tax rate is increased as provided by Section 1020.303. (b) In setting the tax rate, the board shall consider the i…

Sec. 1020.303. ELECTION TO INCREASE MAXIMUM TAX RATE. (a) The board may order an election to increase the district's maximum tax rate to a rate not to exceed 75 cents on each $100 valuation of taxable property in the district. (b) The maximum tax rate may not be increased unless …

Sec. 1020.304. ASSESSMENT AND COLLECTION BY COUNTY TAX ASSESSOR-COLLECTOR. (a) This section applies unless the board elects to have taxes assessed and collected under Section 1020.305. (b) The tax assessor-collector of Deaf Smith County shall assess and collect taxes imposed by t…

Sec. 1020.305. ASSESSMENT AND COLLECTION BY DISTRICT TAX ASSESSOR-COLLECTOR. (a) The board may elect to have district taxes assessed and collected by a tax assessor-collector appointed by the board. An election under this subsection must be made by December 1 and governs the mann…

Sec. 1020.351. DISSOLUTION; ELECTION. (a) The district may be dissolved as provided by this subchapter. (b) The board may order an election on the question of dissolving the district and transferring the district's assets and obligations to Deaf Smith County. (c) The board shall …

Sec. 1020.352. BALLOT. The ballot for an election under this subchapter must be printed to permit voting for or against the proposition: "The dissolution of the Deaf Smith County Hospital District and the transfer of the existing district assets to and the assumption of debts and…

Sec. 1020.353. ELECTION RESULTS. (a) If a majority of the votes in the election favor dissolution and transfer of the district's assets and obligations, the board shall: (1) find that the district is dissolved; and (2) transfer the district's assets and obligations to Deaf Smith …

Sec. 1020.354. TRANSFER OF DISTRICT ASSETS. (a) If a majority of the votes in an election held under this subchapter favor dissolution and transfer of the district's assets and obligations, the board shall transfer to Deaf Smith County the land, buildings, improvements, equipment…