CHAPTER 1251. BOND ELECTIONS - Texas Statutes

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.