Title SD, Special District Local Laws Code

Sec. 1063.204. MATURITY OF GENERAL OBLIGATION BONDS. District general obligation bonds must mature not later than 40 years after the date of issuance. Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.

Sec. 1063.205. EXECUTION OF GENERAL OBLIGATION BONDS. (a) The board president shall execute the general obligation 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 2009, 81st Le…

Sec. 1063.206. REVENUE BONDS. (a) The district may issue revenue bonds or certificates of obligation or may incur or assume any other debt only if authorized by a majority of the district voters voting in an election held for that purpose. This subsection does not apply to refund…

Sec. 1063.207. REFUNDING BONDS. (a) The board may, without an election, 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 the outstan…

Sec. 1063.208. 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. 1063.209. TAX ANTICIPATION NOTES. (a) The board may: (1) declare an emergency because money is not available to: (A) pay the principal of and interest on any district bonds payable wholly or partly from taxes; or (B) meet any other needs of the district; and (2) issue negoti…

Sec. 1063.210. CERTIFICATES OF OBLIGATION. (a) The district may issue and sell certificates of obligation for a purpose permitted under this chapter. (b) The certificates of obligation must be issued and sold in conformity with and in the manner specified for a municipality or co…

Sec. 1063.251. IMPOSITION OF AD VALOREM TAX. (a) The board shall impose an ad valorem tax on all taxable property in the district subject to district taxation. (b) The board shall impose the tax to pay: (1) indebtedness issued or assumed by the district; and (2) the maintenance a…

Sec. 1063.252. TAX RATE. (a) The board may impose the tax at a rate not to exceed 75 cents on each $100 valuation of taxable property in the district subject to district taxation. (b) In setting the tax rate, the board shall consider the income of the district from sources other …

Sec. 1063.253. ASSESSMENT AND COLLECTION BY COUNTY TAX ASSESSOR-COLLECTOR. (a) This section applies unless the board elects to have district taxes assessed and collected under Section 1063.254. (b) The tax assessor-collector of Montgomery County shall assess and collect taxes imp…

Sec. 1063.254. ASSESSMENT AND COLLECTION BY APPOINTMENT OR CONTRACT. (a) The board may elect to: (1) appoint a tax assessor-collector to assess and collect district taxes; or (2) contract for the assessment and collection of taxes as provided by the Tax Code. (b) An election unde…

Sec. 1063.301. DISSOLUTION ELECTION; PETITION. (a) The board may order an election on the question of dissolving the district and disposing of the district's assets and obligations. (b) The board shall order an election on the question of dissolving the district and disposing of …

Sec. 1063.302. VALIDITY OF PETITION FOR ELECTION. (a) Not later than the 30th day after the date a petition requesting the dissolution of the district is submitted under Section 1063.301, the Montgomery County elections administrator shall: (1) determine whether the petition is v…

Sec. 1063.303. ELECTION DATE. An election under this subchapter shall be held on the earlier of the following dates that occurs at least 90 days after the date on which the election is ordered: (1) the uniform election date in May; or (2) the date of the general election for stat…

Sec. 1063.304. BALLOT. The ballot for an election under this subchapter must be printed to permit voting for or against the proposition: "The dissolution of the Montgomery County Hospital District." Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April …

Sec. 1063.305. ELECTION RESULTS. (a) If a majority of the votes in an election under this subchapter favor dissolution, the board shall find that the district is dissolved. (b) If a majority of the votes in the election do not favor dissolution, the board shall continue to admini…

Sec. 1063.306. TRANSFER, SALE, OR ADMINISTRATION OF ASSETS IF ELECTION INITIATED BY BOARD. (a) This section, Section 1063.307, and Section 1063.308 apply to an election called under Section 1063.301(a). (b) If a majority of the votes in the election favor dissolution, the board s…

Sec. 1063.307. IMPOSITION OF TAX AND RETURN OF SURPLUS TAXES. (a) After the board finds that the district is dissolved, the board shall: (1) determine the debt owed by the district; and (2) impose on the property included on the district's tax rolls a tax that is in proportion of…

Sec. 1063.308. REPORT; DISSOLUTION ORDER. (a) After the district has paid all district debts and has disposed of all district money and other assets as prescribed by this subchapter, the board shall file a written report with the Commissioners Court of Montgomery County summarizi…

Sec. 1063.309. TRANSFER, SALE, OR ADMINISTRATION OF ASSETS IF ELECTION INITIATED BY DISTRICT PETITION. (a) This section applies to an election called under Section 1063.301(b). (b) If a majority of the votes in the election favor dissolution, the board shall transfer the land, bu…