CHAPTER 8288. MEEKER MUNICIPAL WATER DISTRICT
SPECIAL DISTRICT LOCAL LAWS CODE
TITLE 6. WATER AND WASTEWATER
SUBTITLE F. MUNICIPAL UTILITY DISTRICTS
CHAPTER 8288. MEEKER MUNICIPAL WATER DISTRICT
Text of effective on April 01, 2011
SUBCHAPTER A. GENERAL PROVISIONS
Text of section effective on April 01, 2011
Sec. 8288.001. DEFINITIONS. In this chapter:
(1) "Board" means the board of directors of the district.
(2) "Bond" means a bond or note.
(3) "Director" means a member of the board.
(4) "District" means the Meeker Municipal Water District.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.002. NATURE OF DISTRICT. The district is a
conservation and reclamation district in Jefferson County created
under Section 59, Article XVI, Texas Constitution.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.003. FINDINGS OF BENEFIT AND PUBLIC PURPOSE. (a) The
district is created to serve a public use and benefit.
(b) All land and other property included in the boundaries of
the district will benefit from the works and projects
accomplished by the district under the powers conferred by
Section 59, Article XVI, Texas Constitution.
(c) The accomplishment of the purposes stated in this chapter is
for the benefit of the people of this state and for the
improvement of their property and industries. The district, in
carrying out the purposes of this chapter, will be performing an
essential public function under the constitution.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.004. LIBERAL CONSTRUCTION OF CHAPTER. This chapter
shall be liberally construed to effect the purposes, powers,
rights, and functions stated in this chapter.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.005. DISTRICT TERRITORY. (a) The district is composed
of the territory described by Section 1, Chapter 714, Acts of the
65th Legislature, Regular Session, 1977, as that territory may
have been modified under:
(1) Subchapter H, Chapter 54, Water Code;
(2) Subchapter J, Chapter 49, Water Code; or
(3) other law.
(b) The boundaries of the district form a closure. A mistake in
copying the field notes in the legislative process or another
mistake in the field notes does not affect:
(1) the district's organization, existence, or validity;
(2) the district's right to issue bonds or to pay the principal
of and interest on the bonds;
(3) the district's right to impose a tax; or
(4) the legality or operation of the district or the board.
(c) The board may redefine the boundaries of the district to
correct any mistake in the field notes appearing in Section 1,
Chapter 714, Acts of the 65th Legislature, Regular Session, 1977.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
SUBCHAPTER B. BOARD OF DIRECTORS
Text of section effective on April 01, 2011
Sec. 8288.051. COMPOSITION OF BOARD; TERMS. (a) The district
is governed by a board of nine elected directors, each of whom
occupies a numbered place on the board.
(b) Directors serve staggered terms.
(c) Director elections must be held in the manner provided in
the Water Code for municipal utility districts.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.052. QUALIFICATIONS FOR OFFICE. To be eligible to be
elected or to serve as a director, a person must be a resident,
qualified voter of the district.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8828.053. BOARD RESOLUTIONS; VOTING REQUIREMENTS. (a) The
district shall act through orders or resolutions adopted by the
board.
(b) All directors are entitled to vote.
(c) The affirmative vote of a majority of the directors in
attendance, but not fewer than five directors, is necessary to
adopt an order or resolution.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.054. OFFICERS AND ASSISTANTS. (a) The board shall
elect a president, vice president, secretary, and treasurer.
(b) The board shall elect the president and vice president from
among the directors.
(c) The president serves for a one-year term.
(d) The offices of secretary and treasurer:
(1) may be held by one person; and
(2) are not required to be held by a director.
(e) The board may appoint one or more assistant officers who are
not required to be directors.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.055. OFFICER DUTIES. (a) The board president shall
preside at board meetings and perform other duties prescribed by
the board.
(b) The board secretary is the official custodian of the
minutes, books, records, and seal of the board and shall perform
other duties and functions prescribed by the board.
(c) The board treasurer shall perform duties and functions
prescribed by the board.
(d) An assistant officer may perform any duties or functions as
may be prescribed by the board.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.056. MEETINGS. The board shall have regular meetings
at times specified by board resolution or bylaws and shall have
special meetings when called by the board president or by any
three directors.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
SUBCHAPTER C. POWERS AND DUTIES
Text of section effective on April 01, 2011
Sec. 8288.101. DISTRICT POWERS. The district may exercise any
power necessary or appropriate to achieve the purposes of this
chapter, including the power to:
(1) adopt an official seal;
(2) adopt and enforce:
(A) bylaws and rules for the conduct of its affairs; and
(B) any rule that a municipal utility district may adopt and
enforce under Section 54.205 et seq., Water Code;
(3) acquire, hold, use, invest, reinvest, and dispose of its
receipts and money from any source;
(4) select a depository or depositories;
(5) acquire, own, rent, lease, accept, hold, or dispose of
property or an interest in property, including a right or
easement, by purchase, exchange, gift, assignment, condemnation,
sale, lease, or other means, in performing a duty or exercising a
power under this chapter;
(6) hold, manage, operate, or improve property;
(7) lease or rent any land, buildings, structures, or facilities
from or to any person;
(8) sell, assign, lease, encumber, mortgage, or otherwise
dispose of property or an interest in property, and release or
relinquish a right, title, claim, lien, interest, easement, or
demand, regardless of the manner in which acquired, and conduct a
transaction authorized by this subdivision by public or private
sale, notwithstanding any other law;
(9) in the manner and to the extent permitted by this chapter:
(A) borrow money for a corporate purpose;
(B) enter into an agreement in connection with the borrowing;
(C) issue bonds for money borrowed;
(D) provide for and secure the payment of the bonds; and
(E) provide for the rights of the holders of the bonds;
(10) request and accept an appropriation, grant, allocation,
subsidy, guaranty, aid, service, material, or gift from any
public or private source, including the federal government, the
state, a public agency, or a political subdivision;
(11) operate and maintain an office; and
(12) appoint and determine the duties, tenure, qualifications,
and compensation of officers, employees, agents, and professional
advisors and counselors considered necessary or advisable by the
board, including financial consultants, accountants, attorneys,
architects, engineers, appraisers, and financing experts.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.102. GENERAL POWERS REGARDING WATER. The district has
all rights, powers, and privileges necessary or useful to enable
it to acquire, provide, supply, deliver, and sell potable water
inside or outside its boundaries for any beneficial purpose.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.103. GENERAL POWERS REGARDING WASTE. The district has
all rights, powers, and privileges necessary or useful to enable
it to collect, transport, dispose of, and control domestic,
industrial, or communal wastes, whether in fluid, solid, or
composite state.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.104. GENERAL POWERS REGARDING GARBAGE COLLECTION AND
DISPOSAL. The district has all rights, powers, and privileges
necessary or useful to enable it to provide for garbage
collection and disposal in all or part of the district on terms
and at rates and charges the board considers just and reasonable
to:
(1) preserve the water of rivers and streams in this state; and
(2) aid in the preservation and conservation of the natural
resources of this state.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.105. GENERAL CONTRACT POWERS. (a) The district may
enter into and enforce a contract or agreement necessary or
convenient to the exercise of the powers, rights, privileges, and
functions conferred on the district by this chapter or the
general law, including a contract or agreement with any person as
the board considers necessary or proper for, or in connection
with, any power or function of the district for:
(1) the purchase or sale of water;
(2) the collection, transportation, processing, or disposal of
waste; or
(3) the construction, acquisition, ownership, financing,
operation, maintenance, sale, leasing to or from, or other use or
disposition of any facilities authorized to be developed,
acquired, or constructed under this chapter or the general law.
(b) The authority to enter into or enforce the contract or
agreement includes the authority to enter into or enforce a
contract or agreement regarding:
(1) any improvements, structures, facilities, equipment, and
other property of any kind in connection with the subject of the
contract or agreement;
(2) any land, leaseholds, and easements; and
(3) any interests in the property.
(c) The contract or agreement:
(1) may not have a term of more than 40 years; and
(2) may contain provisions the board determines to be in the
best interest of the district.
(d) The district may pledge all or part of its revenue to the
payment of its obligations under the contract or agreement to the
same extent and on the same conditions as it may pledge revenue
to secure district bonds.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.106. AUTHORITY OF PUBLIC AGENCIES AND POLITICAL
SUBDIVISIONS TO CONTRACT WITH DISTRICT. A public agency or
political subdivision of this state may enter into a contract or
agreement with the district, on terms agreed to by the parties,
for:
(1) the purchase or sale of water;
(2) waste collection, transportation, processing, or disposal;
or
(3) any purpose relating to the district's powers or functions.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.107. CONVEYANCE OF PROPERTY TO DISTRICT. A public
agency or political subdivision of this state may lease, sell, or
otherwise convey to the district, for any consideration that the
parties agree is adequate, any of its land, improvements,
property, plants, lines, or other facilities related to:
(1) the supply of water; or
(2) waste collection, transportation, processing, or disposal.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.108. ACQUISITION OF EXISTING FACILITIES. If the
district acquires existing works, improvements, facilities,
plants, equipment, or appliances that are completed, partially
created, or under construction, the district may:
(1) assume the contracts and obligations of the previous owner;
and
(2) perform the obligations of the previous owner in the same
manner and to the same extent that any other purchaser or
assignee would be bound.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.109. EMINENT DOMAIN. (a) To carry out a power
conferred by this chapter, the district may exercise the power of
eminent domain inside or outside the district to acquire the fee
simple title to land, or any other interest in land as determined
by the board, and other property and easements, necessary for
water wells, water or sewer treatment plants, water or sewer
lines, pumping stations and force mains, storage tanks, or other
similar facilities.
(b) The district must exercise the power of eminent domain in
the manner provided by Chapter 21, Property Code.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.110. COST OF RELOCATING OR ALTERING PROPERTY;
RIGHTS-OF-WAY AND EASEMENTS. (a) If the district's exercise of
its eminent domain, police, or other power requires relocating,
raising, lowering, rerouting, or changing the grade of or
altering the construction of any highway, railroad, electric,
transmission, telegraph, or telephone line, conduit, pole,
property, or facility or pipeline, the action shall be
accomplished at the sole expense of the district. The term "sole
expense" means the actual cost of the lowering, rerouting, or
change in grade or alteration of construction to provide a
comparable replacement without enhancing the facility, after
deducting from the cost the net salvage value derived from the
old facility.
(b) The district has all necessary or useful rights-of-way and
easements along, over, under, and across all public, state,
municipal, and county roads, highways, and places for any of its
purposes. The district shall restore a used facility to its
previous condition as nearly as possible at the sole expense of
the district.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
SUBCHAPTER D. GENERAL FINANCIAL PROVISIONS
Text of section effective on April 01, 2011
Sec. 8288.151. IMPOSITION OF MAINTENANCE TAX; PROHIBITION ON
OTHER TAXES OR ASSESSMENTS. (a) The district may impose a tax,
not to exceed 10 cents on each $100 of the assessed value of
taxable property in the district according to the most recent
certified tax appraisal roll of the district, for:
(1) maintenance purposes, including money for studying,
planning, maintaining, repairing, and operating all necessary
plants, works, facilities, improvements, appliances, and
equipment of the district;
(2) paying costs of proper services, engineering, and legal
fees; and
(3) organization and administrative expenses.
(b) The district may not impose a maintenance tax unless the tax
is approved by a majority of the voters voting at an election
held for that purpose.
(c) Except for the maintenance tax authorized by this section,
the district may not under this chapter or any other law levy or
collect a tax or assessment or create a debt payable from a tax
or assessment.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.152. ELECTION TO IMPOSE TAX. (a) The board may order
an election to impose a maintenance tax. The election order must
specify:
(1) the time and place of the election;
(2) the maximum amount of tax to be authorized;
(3) the form of the ballot; and
(4) other matters the board considers necessary or advisable.
(b) Notice of the election must be given by publishing once a
week for two consecutive weeks a substantial copy of the election
order in a newspaper of general circulation in the district. The
first publication must occur at least 14 days before the date of
the election.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.153. DEPOSITORY. (a) The board shall designate one
or more banks inside or outside the district to serve as the
depository for the district's money.
(b) All district money shall be deposited in the depository
designated by the board, except that:
(1) bond proceeds and money pledged to pay bonds, to the extent
provided in a resolution or trust indenture authorizing or
securing district bonds, may be deposited with another bank or
trustee named in the bond resolution or trust indenture; and
(2) money shall be remitted to each paying agent for the payment
of principal of and interest on the bonds.
(c) To the extent that money in a depository bank or the trustee
bank is not insured by the Federal Deposit Insurance Corporation,
the money must be secured in the manner provided by law for the
security of the county funds in this state.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.154. INVESTMENT OF DISTRICT MONEY. The board may
invest district money in obligations and make time deposits of
district money in a manner determined by the board or in the
manner permitted or required in a resolution or trust indenture
authorizing or securing district bonds.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.155. DISTRICT FACILITIES EXEMPT FROM TAXATION AND
ASSESSMENT. The district is not required to pay a tax or
assessment on its facilities or any part of its facilities. (Acts
65th Leg., R.S., Ch. 714, Sec. 22 (part).)
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
SUBCHAPTER E. BONDS
Text of section effective on April 01, 2011
Sec. 8288.201. AUTHORITY TO ISSUE BONDS. (a) The district may
issue bonds payable from and secured by district revenue to carry
out any power conferred by this chapter. The bonds must be
authorized by a board resolution.
(b) The bonds must be issued in the manner and under the terms
of the resolution authorizing the issuance of the bonds.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.202. FORM OF BONDS. District bonds must be:
(1) issued in the district's name;
(2) signed by the president or vice president; and
(3) attested by the secretary.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.203. MATURITY. District bonds must mature not later
than 40 years after the date of their issuance.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.204. BONDS SECURED BY REVENUE; ADDITIONAL BONDS. (a)
District bonds may be secured by a pledge of all or part of the
district's revenue, or by all or part of the payments or rentals
under one or more contracts or leases specified by board
resolution or a trust indenture securing the bonds.
(b) A resolution authorizing the issuance of bonds secured by a
pledge of revenue of all or part of the district's facilities may
provide that the district shall first pay the expenses of
operating and maintaining all or part of the facilities as the
board considers appropriate before paying the principal of and
interest on the bonds.
(c) In a resolution authorizing the issuance of bonds secured by
revenue, contract payments, or lease rentals, the district may
reserve the right, under conditions specified by the resolution,
to issue additional bonds that will be on a parity with, superior
to, or subordinate to the bonds then being issued.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.205. ADDITIONAL SECURITY. (a) District bonds may be
additionally secured, at the discretion of the board, by a deed
of trust or mortgage lien on all or part of the district's
physical property, facilities, easements, water rights and
appropriation permits, leases, contracts, and all rights
appurtenant to the property, vesting in the trustee power to:
(1) sell the property for the payment of the debt;
(2) operate the property; and
(3) take other action to further secure the bonds.
(b) A purchaser under a sale under the deed of trust lien, if
one is given:
(1) is the absolute owner of the property, facilities, and
rights purchased; and
(2) is entitled to maintain and operate the property,
facilities, and rights.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.206. TRUST INDENTURE. District bonds authorized by
this chapter, including refunding bonds, may be additionally
secured by a trust indenture. The trustee may be a bank with
trust powers that is located inside or outside the state.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.207. CHARGES FOR DISTRICT SERVICES. If district bonds
payable wholly from revenue are issued, the board shall set and
revise the rates, fees, and charges assessed for water sold and
waste collection and treatment services provided by the district.
The rates, fees, and charges must be sufficient to:
(1) pay the expense of operating and maintaining the district
facilities that generate the revenue from which the bonds will be
paid;
(2) pay the principal of and interest on the bonds when due; and
(3) maintain the reserve fund and other funds as provided in the
resolution authorizing the bonds.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.208. STATE PLEDGE REGARDING RIGHTS AND REMEDIES OF
BONDHOLDERS. Without depriving this state of its power to
regulate and control the rates, fees, and charges assessed for
water sold and waste collection and treatment services provided
by the district, the state pledges to and agrees with the holders
of district bonds that the state will not exercise its power to
regulate and control the rates, fees, and charges in any way that
would impair the rights or remedies of the holders of the bonds.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.209. USE OF BOND PROCEEDS. (a) The district may set
aside an amount of proceeds from the sale of district bonds for:
(1) the payment of interest expected to accrue during
construction not to exceed three years;
(2) a debt service reserve fund; and
(3) other funds as may be provided in the resolution authorizing
the bonds or in the trust indenture.
(b) The district may use proceeds from the sale of the bonds to
pay any expense necessarily incurred in accomplishing the purpose
of the district, including any expense of issuing and selling the
bonds.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.210. APPOINTMENT OF RECEIVER. (a) On default or
threatened default in the payment of the principal of or interest
on district bonds that are payable wholly or partly from revenue,
a court may, on petition of the holders of at least 25 percent of
the district's outstanding revenue bonds, appoint a receiver for
the district.
(b) The receiver may collect and receive all district revenue,
other than taxes, employ and discharge district agents and
employees, and take charge of money on hand, other than money
received from taxes, unless commingled, and or hindrance by the
board.
(c) The receiver may be authorized to sell or contract for the
sale of water or the collection or treatment of waste or to renew
contracts with the approval of the court that appointed the
receiver.
(d) The court may vest the receiver with any other power or duty
the court finds necessary to protect the holders of the bonds.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.211. REFUNDING BONDS. (a) The district may issue
refunding bonds to refund outstanding district bonds and interest
on those bonds. Refunding bonds may be issued without an
election.
(b) Refunding bonds may:
(1) be issued to refund bonds of more than one series;
(2) combine the pledges for the outstanding bonds for the
security of the refunding bonds; or
(3) be secured by a pledge of other or additional revenue or
mortgage liens.
(c) The provisions of this subchapter regarding the issuance of
other bonds, their security, and the remedies of the holders
apply to refunding bonds.
(d) The comptroller shall register the refunding bonds on the
surrender and cancellation of the bonds to be refunded.
(e) Instead of issuing bonds to be registered on the surrender
and cancellation of the bonds to be refunded, the district, in
the resolution authorizing the issuance of the refunding bonds,
may provide for the sale of the refunding bonds and the deposit
of the proceeds in a bank at which the bonds to be refunded are
payable. In that case, the refunding bonds may be issued in an
amount sufficient to pay the principal of and interest and any
required redemption premium on the bonds to be refunded to any
redemption date or to their maturity date, and the comptroller
shall register the refunding bonds without the surrender and
cancellation of the bonds to be refunded.
(f) The district may also issue refunding bonds under any other
applicable law.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.212. OTHER REMEDIES AND COVENANTS. The resolution
authorizing the issuance of any district bonds authorized under
this chapter, including refunding bonds, or the trust indenture
securing the bonds, may provide other remedies and covenants the
board considers necessary to issue the bonds on the most
favorable terms.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.213. LIMITATION ON RIGHTS OF BONDHOLDERS. The
resolution authorizing the bonds or the trust indenture securing
the bonds may limit or qualify the rights of the holders of less
than all of the outstanding bonds payable from the same source to
institute or prosecute litigation affecting the district's
property or income.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.
Text of section effective on April 01, 2011
Sec. 8288.214. BONDS EXEMPT FROM TAXATION. A district bond, the
transfer of the bond, and the income from the bond, including
profits made on the sale of the bond, are exempt from taxation in
this state.
Added by Acts 2009, 81st Leg., R.S., Ch.
1139, Sec. 1.04, eff. April 1, 2011.