CHAPTER 1251. BOND ELECTIONS
GOVERNMENT CODE
TITLE 9. PUBLIC SECURITIES
SUBTITLE C. PROVISIONS APPLICABLE TO SECURITIES ISSUED BY MORE
THAN ONE TYPE OF LOCAL GOVERNMENT
CHAPTER 1251. BOND ELECTIONS
Sec. 1251.001. BOND ELECTION REQUIRED. A county or municipality
may not issue bonds that are to be paid from ad valorem taxes
unless the issuance is first approved by the qualified voters of
the county or municipality in an election.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1251.002. CONTENTS OF PROPOSITION. The proposition
submitted in the election must distinctly state:
(1) the purpose for which the bonds are to be issued;
(2) the amount of the bonds;
(3) the rate of interest;
(4) the imposition of taxes sufficient to pay the annual
interest on the bonds and to provide a sinking fund to redeem the
bonds at maturity; and
(5) the maturity date of the bonds or that the bonds may be
issued to mature serially over a specified number of years not to
exceed 40.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1251.003. CONDUCT OF ELECTION. (a) The general election
laws govern the election except as provided by this section.
(b) The order for the election must include the location of each
polling place and the hours that the polls will be open.
(c) The election shall be held not less than 15 days nor more
than 90 days from the date of the election order, subject to
Section 41.001(b), Election Code.
(d) In addition to the notice required by Section 4.003(c),
Election Code, notice of the election shall be given by:
(1) posting a substantial copy of the election order at:
(A) three public places in the county or municipality holding
the election; and
(B) the county courthouse, if the election is a county election,
or the city hall, if the election is a municipal election; and
(2) publishing notice of the election in a newspaper of general
circulation published in the county or municipality holding the
election.
(e) The notice required by Subsection (d)(2) must be published
on the same day in each of two successive weeks. The first
publication must be not less than 14 days before the date of the
election.
(f) To the extent of a conflict between this section and a
municipal charter, this section controls.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1251.004. IMPOSITION OF TAX. At an election ordered on the
issuance of bonds of a county or municipality, or of a political
subdivision or defined district of a county or municipality, the
governing body of the county or municipality shall also submit
the question of whether to impose a tax on property in the
county, municipality, political subdivision, or defined district
to pay interest on the bonds and to provide a sinking fund to
redeem the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1251.005. BALLOT PROPOSITION. At the election, the ballots
shall be printed to permit voting for or against the proposition:
"The issuance of bonds."
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1251.006. CERTAIN BONDS EXEMPTED. (a) Sections 1251.001,
1251.002, and 1251.004 do not apply to:
(1) refunding bonds of a county or municipality; or
(2) bonds issued in an amount less than $2,000 to repair a
building or structure that may be built using the proceeds of
bonds.
(b) If bonds described by Subsection (a)(2) are issued, the
aggregate principal amount of those bonds may not exceed $2,000
in a calendar year.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.