Title SD, Special District Local Laws Code

Sec. 8511.0403. COURT REVIEW. (a) A person adversely affected by an authority rule or order may sue the authority in a district court to set aside the rule or order before the 31st day after the date on which the rule or order took effect. (b) Venue for a suit under Subsection (a…

Sec. 8511.0501. DISBURSEMENT OF MONEY. The authority may disburse its money only by a check, draft, order, or other instrument signed by a person authorized to do so in the board's bylaws or by board resolution. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03,…

Sec. 8511.0502. ACCOUNTS, CONTRACTS, AND OTHER RECORDS; PUBLIC INSPECTION. (a) The authority shall keep complete and accurate accounts of its business transactions in accordance with generally accepted methods of accounting. (b) The authority shall keep its accounts, contracts, d…

Sec. 8511.0503. FEES AND CHARGES. (a) The authority shall establish fees and charges. (b) The fees and charges may not exceed the amount necessary to fulfill the obligations imposed on the authority by this chapter. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1…

Sec. 8511.0504. TRUST MONEY. Money collected by or donated, granted, loaned, or advanced to the authority is trust money for the purposes provided by this chapter. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.

Sec. 8511.0505. DEPOSITORY. (a) The board shall designate one or more banks inside or outside the authority to serve as a depository for authority money. (b) Authority money shall be deposited in a depository designated by the board, except that the following may be handled as pr…

Sec. 8511.0506. INVESTMENT OF AUTHORITY MONEY; APPLICATION OF INCOME FROM INVESTMENTS. (a) Money in the authority's treasury that is not required for the current payment of obligations of the authority or for sinking funds and that the board considers available for investment may…

Sec. 8511.0507. FISCAL YEAR. The authority's fiscal year ends on August 31 of each year. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.

Sec. 8511.0508. AUDIT. (a) In addition to including the information required by Subchapter G, Chapter 49, Water Code, the audit report prepared under that subchapter must state: (1) the amount of money received by the authority under this chapter during the preceding fiscal year;…

Sec. 8511.0601. MAINTENANCE AND ADMINISTRATION TAX. (a) The board may impose ad valorem taxes in amounts approved at an election held in accordance with Section 8511.0602 for: (1) the maintenance of the authority and its improvements; or (2) the authority's administrative expense…

Sec. 8511.0602. ELECTION FOR AD VALOREM TAX OR BONDS PAYABLE FROM AD VALOREM TAXES. (a) An ad valorem tax for a purpose authorized by this chapter may not be imposed and bonds payable wholly or partly from ad valorem taxes, other than refunding bonds, may not be issued unless the…

Sec. 8511.0603. ASSESSMENT AND COLLECTION OF TAXES. (a) Concurrently with the imposition of county taxes by the commissioners courts, the board shall impose a tax for the authority on all taxable property in the authority that is subject to taxation. The board shall immediately c…

Sec. 8511.0604. MAXIMUM TAX RATE. Except as provided by Section 8511.0605, the maximum tax rate that may be imposed for any year for all purposes is 15 cents on each $100 of assessed valuation of taxable property. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.0…

Sec. 8511.0605. POWERS RELATING TO IMPROVEMENTS PECULIAR TO DEFINED AREA. (a) The authority may exercise the powers specified by Sections 51.510 through 51.530, Water Code, relating to improvements peculiar to defined areas inside the authority. (b) The tax rate limit specified b…

Sec. 8511.0701. BORROWING MONEY; GRANTS. (a) The authority may: (1) borrow money or accept a grant or donation for its corporate purposes from any person, including a private source, the United States, this state, or a local government; and (2) enter into an agreement in connecti…

Sec. 8511.0702. POWER TO APPLY FOR MONEY FOR ENGINEERING SURVEYS, INFORMATION COMPILATION AND COLLECTION, AND OTHER PURPOSES. (a) The authority may apply to any person, including this state and the United States, for money necessary to: (1) secure engineering surveys and the comp…

Sec. 8511.0703. POWER TO ISSUE BONDS. (a) For the purpose of carrying out any power conferred by this chapter, including preparation of the master plan and payment of engineering and related expenses, the authority may issue bonds in three general classes: (1) bonds secured by ad…

Sec. 8511.0704. FORM OF BONDS. Authority bonds must be: (1) in the form the board prescribes; (2) issued in the authority's name; (3) signed by the president or a vice president; and (4) attested by the secretary. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.0…

Sec. 8511.0705. MATURITY. Authority bonds must mature not later than 50 years after the date of their issuance. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.

Sec. 8511.0706. ELECTION FOR BONDS PAYABLE FROM AD VALOREM TAXES. (a) Authority bonds, other than refunding bonds, payable wholly or partly from ad valorem taxes may not be issued unless authorized by an election at which a majority of the votes cast favor the bond issuance. The …

Sec. 8511.0707. TRUST INDENTURE. Authority bonds may be further secured by a trust indenture with a corporate trustee. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.

Sec. 8511.0708. ADDITIONAL BONDS. A pledge of revenue may reserve the right, under conditions specified by the pledge, to issue additional bonds that will be on a parity with or subordinate to the bonds then being issued. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), …

Sec. 8511.0709. ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING BONDS OR TRUST INDENTURE. (a) The resolution authorizing the bonds or the trust indenture further securing the bonds may specify additional provisions that constitute a contract between the authority and its bondhold…

Sec. 8511.0710. REFUNDING BONDS. (a) The authority may issue refunding bonds to refund outstanding authority bonds and interest on the bonds. (b) Refunding bonds may: (1) be issued to refund bonds of one or more series; (2) combine the pledges for the outstanding bonds for the se…