reglab/housing_qa huggingface dataset:
TX Water Code § 55.499 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.499. Amount of Bonds

Sec. 55.499.  AMOUNT OF BONDS.  The bonds shall be sufficient in amount to pay for the proposed improvements together with necessary incidental expenses connected with the improvements, but the amount shall not be more than the amount specified in the order and notice of election.  The total amount of the bonds shall include:(1)  the amount of the engineer's estimate;(2)  incidental expenses;(3)  organization expenses;  and(4)  cost of additional work caused by any change or modification made by the directors.|Acts 1971, 62nd Leg., p. 466, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.500 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.500. Limitation of Indebtedness

Sec. 55.500.  LIMITATION OF INDEBTEDNESS.  In districts organized under Article III, Section 52, of the Texas Constitution, the amount of bonds or the amount of the contract indebtedness with the United States may not be more than one-fourth of the actual assessed value of the real property in the district as shown by an assessment made for this purpose or by the last annual assessment made under this chapter.  This limitation does not apply to districts operating under the authority of Article XVI, Section 59, of the Texas Constitution.|Acts 1971, 62nd Leg., p. 466, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.501 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.501. Special Interest Procedure

Sec. 55.501.  SPECIAL INTEREST PROCEDURE.  (a)  The maximum amount of bonds issued by a district may include a sufficient sum to pay the first one, two, or three years' interest to accrue on the bonds, and no taxes shall be levied against property located in the district for this period except for a sufficient tax to pay notes provided for in Section 55.038 of this code.(b)  The board may designate the period of interest to begin either with the date of the bonds fixed in the order which authorizes their issuance or from the date or dates of the actual sale, issuance, and delivery of the bonds or any installments.(c)  Any money left in the interest fund at the end of the designated period still may be used to pay interest on the bonds.|Acts 1971, 62nd Leg., p. 466, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.502 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.502. Formal Requirements of Bonds

Sec. 55.502.  FORMAL REQUIREMENTS OF BONDS.  (a)  The board shall issue bonds in the name of the district, and the president shall sign the bonds, the secretary shall attest to them, and the district's seal shall be impressed on them.(b)  The bonds shall be issued in denominations of not less than $100 nor more than $1,000 each.(c)  The bonds shall be payable annually or semiannually and shall mature not more than 40 years after they are issued.(d)  The bonds may be issued to mature in serial form at any date which does not come later than the date specified in the notice of election and may bear any rate of interest which is not more than the rate of interest specified in the notice.(e)  The terms of the bonds shall include the time, place, manner, and conditions of payment and the interest rate which are ordered by the board.|Acts 1971, 62nd Leg., p. 466, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.504 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.504. Suit to Determine Validity of Bonds or Contract

Sec. 55.504.  SUIT TO DETERMINE VALIDITY OF BONDS OR CONTRACT.  (a)  Before any bonds are offered for sale, the district shall bring suit in any district court within the judicial district in which the district is located or in any district court in Travis County to determine the validity of the bonds.  On request of the secretary of interior, any district entering into a contract with the United States shall bring suit in one of the same courts to determine the validity of the contract.(b)  The action shall be in the nature of a proceeding in rem, and jurisdiction over all interested parties may be obtained by publishing notice once a week for at least two consecutive weeks in a newspaper with general circulation in the county in which the district is located.  If there is no newspaper published in the county, the notice shall be published in the county nearest to the district in which a newspaper is published.|Acts 1971, 62nd Leg., p. 467, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.505 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.505. Notice to Attorney General

Sec. 55.505.  NOTICE TO ATTORNEY GENERAL.  (a)  Notice of a validation suit shall be served on the attorney general in the manner provided for serving a notice in civil suits.(b)  The attorney general may waive service if he is furnished a full transcript of the proceedings held in the formation of the district and held in connection with the issuance of the bonds or the authorization of the contract with the United States and is furnished a copy of the contract.|Acts 1971, 62nd Leg., p. 467, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.507 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.507. Right of Persons to Intervene and Participate in Suit

Sec. 55.507.  RIGHT OF PERSONS TO INTERVENE AND PARTICIPATE IN SUIT.  At the trial of a validation suit the court may permit persons having an interest in the issues to be determined to intervene and participate in the trial of the issues.|Acts 1971, 62nd Leg., p. 468, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.509 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.509. Judgment Rendered

Sec. 55.509.  JUDGMENT RENDERED.  (a)  If the judgment of the court in a validation suit is against the district, the district may accept the judgment and may correct the error pointed out in the proceedings in the manner directed by the court.(b)  After the corrections are made, the judgment of the court shall be rendered showing that the corrections have been made and that the bonds or the contract is a binding obligation on the district.(c)  The final judgment, when it is entered, is res judicata in any case arising in connection with the bonds or their interest or in connection with the collection of money required under the contract with the United States and in all matters relating to the validity of the organization of the district, the district's bonds, or the contract with the United States.|Acts 1971, 62nd Leg., p. 468, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.510 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.510. Court's Decree

Sec. 55.510.  COURT'S DECREE.  (a)  After the district court enters a final judgment in a validation suit, the clerk of the court shall make a certified copy of the decree which shall be a part of the orders and decree connected with the election.(b)  The court's decree shall be filed with the comptroller and he shall record the decree in a book kept for that purpose.(c)  The certified copy of the decree or a certified copy of the record made by the comptroller shall be received as evidence in any litigation which may affect the validity of the bonds or contract with the United States and shall be conclusive evidence of the validity.|Acts 1971, 62nd Leg., p. 468, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.513 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.513. County Clerk's Fees

Sec. 55.513.  COUNTY CLERK'S FEES.  The county clerk is entitled to receive:(1)  for registering the bonds, 10 cents for each bond which is registered;(2)  for entering the payment of a bond, 10 cents;  and(3)  for recording district instruments required to be recorded and for which no fee is provided, the same fees provided by law for recording deeds.|Acts 1971, 62nd Leg., p. 469, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.514 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.514. Sale of Bonds

Sec. 55.514.  SALE OF BONDS.  (a)  After the bonds are issued and registered by the comptroller, the board shall offer the bonds for sale and shall sell them on the best terms and for the best possible price.(b)  After all the bonds are sold, the board shall pay to the district depository all money received from the sale.(c)  The board may exchange the bonds for property to be acquired by purchase under contract or in payment of the contract price for work to be done for the use and benefit of the district.|Acts 1971, 62nd Leg., p. 469, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.515 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.515. Emergency Loans and Interim Bonds

Sec. 55.515.  EMERGENCY LOANS AND INTERIM BONDS.  (a)  The district may create emergency loans and issue interim bonds for the purposes, in the manner, and under the restrictions and limitations provided in Sections 51.444-51.449 of this code.(b)  It is the purpose of this section to confer on the district the same power and authority with respect to emergency loans and issuance of interim bonds as that conferred by law on water control and improvement districts.|Acts 1971, 62nd Leg., p. 469, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.516 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.516. Tax Levy

Sec. 55.516.  TAX LEVY.  (a)  After bonds have been voted, the board shall levy a tax on all property in the district sufficient to pay the interest on the bonds together with an additional amount to be placed in the sinking fund to discharge and redeem the bonds at maturity, and the board shall annually levy or have assessed and collected taxes on all property in the district sufficient to pay for the expenses for assessing and collecting the taxes.(b)  The board may issue the bonds in serial form or to be paid in installments.(c)  The tax levy shall be sufficient to pay the interest on the bonds, to meet the proportional amount of the principal of the next maturing series of the bonds, and to pay expenses of assessing and collecting the taxes for the year.(d)  If a contract is entered into with the United States, the board shall levy a tax sufficient to meet all installments as they are due and to pay interest.  The directors shall make an annual levy until the contracts and obligations are discharged.|Acts 1971, 62nd Leg., p. 469, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.517 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.517. Adjustment of Tax Levy

Sec. 55.517.  ADJUSTMENT OF TAX LEVY.  The tax which is levied in connection with the original bond issue shall remain in force for that purpose until a new levy is made.  The board may, from time to time, increase or diminish the tax for the purpose of adjusting the tax to the taxable values of taxable property in the district and the amount to be collected, and the increase or decrease in the tax shall be sufficient to provide enough money in the interest and sinking fund to make annual payments on outstanding bonds.|Acts 1971, 62nd Leg., p. 470, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.518 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.518. Interest and Sinking Fund

Sec. 55.518.  INTEREST AND SINKING FUND.  (a)  The district shall have an interest and sinking fund which shall consist of all taxes collected under the provisions of this chapter for this fund.(b)  Money in the interest and sinking fund shall be paid out only:(1)  to satisfy and discharge interest on the bonds;(2)  to pay the bonds;(3)  to defray the expense of assessing and collecting the tax;  and(4)  to pay principal and interest due to the United States under a contract with the district under which bonds have not been deposited with the United States.(c)  The board shall order money from the fund to be paid out by warrants drawn as provided in this chapter.  When funds are paid out, the depository shall receive and cancel the interest coupon or bond paid, and the interest coupon or bond shall be delivered to the board to be cancelled and destroyed.|Acts 1971, 62nd Leg., p. 470, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.519 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.519. Investment of Sinking Funds

Sec. 55.519.  INVESTMENT OF SINKING FUNDS.  The board may invest sinking funds of the district in bonds of the United States, the State of Texas, any county, any incorporated city or town, any independent school district, or any school district authorized to issue bonds, or they may invest the funds in irrigation or water improvement bonds.  The board may not purchase any bonds which under their terms would mature subsequent to the maturity date of bonds for which the sinking fund was created.|Acts 1971, 62nd Leg., p. 470, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.520 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.520. Refunding Bonds

Sec. 55.520.  REFUNDING BONDS.  (a)  The board of a district which has issued bonds under the provisions of this chapter, by resolution, may issue refunding bonds to replace the original bonds.  The refunding bonds may be issued in any amount, in any denomination, and for any period of maturity and may bear any rate of interest provided in the board's resolution.(b)  The refunding bonds shall be issued subject to the limitations provided in this subchapter for the issuance of bonds.(c)  The refunding bonds may be exchanged for the original bonds at the original bonds' face value or at a discount, or the refunding bonds may be sold and the net proceeds applied to the purchase of the original bonds at face value or at a discount.|Acts 1971, 62nd Leg., p. 470, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.521 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.521. Registering Refunding Bonds

Sec. 55.521.  REGISTERING REFUNDING BONDS.  (a)  The comptroller may not register any refunding bonds until the original bonds for which the refunding bonds are issued are presented to him for cancellation or until a contract for the purchase of a corresponding number of the original bonds has been entered into and filed with the comptroller.(b)  After the refunding bonds are registered, the comptroller shall keep them in his possession until the original bonds are surrendered to him and cancelled by him, at which time he shall deliver the new bonds to the proper party or parties.(c)  The original bonds may be presented for payment in installments and an equal amount of refunding bonds registered and delivered as provided in this subchapter.|Acts 1971, 62nd Leg., p. 471, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.522 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.522. Issuing Refunding Bonds for the Same Amount and With the Same Maturity Date as the Original Bonds

Sec. 55.522.  ISSUING REFUNDING BONDS FOR THE SAME AMOUNT AND WITH THE SAME MATURITY DATE AS THE ORIGINAL BONDS.  (a)  Refunding bonds for the same amount and with the same maturity date as the bonds which they are to replace may be authorized by resolution of the board and issued without an election to approve them.(b)  These refunding bonds shall be registered by the comptroller in the manner provided in Section 55.521 of this code after a copy of the resolution providing for the issuance of the refunding bonds and the cancellation of the original bonds is filed with the comptroller.(c)  After the original bonds are cancelled and the refunding bonds are registered by the comptroller, the refunding bonds are valid and binding obligations of the district without further proceedings and have the same force, validity, and effect as the original bonds which they have replaced.|Acts 1971, 62nd Leg., p. 471, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.523 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.523. Issuing Refunding Bonds Which Place a Greater Burden on the District

Sec. 55.523.  ISSUING REFUNDING BONDS WHICH PLACE A GREATER BURDEN ON THE DISTRICT.  If the district issues refunding bonds for a greater amount, for a greater rate of interest, or for a longer period of maturity than the bonds which they are to replace or if the refunding bonds in any other respect create a greater burden on the district, the district shall submit the question of whether or not it should issue the refunding bonds to the voters of the district.|Acts 1971, 62nd Leg., p. 471, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.524 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.524. Law Governing Refunding Bonds

Sec. 55.524.  LAW GOVERNING REFUNDING BONDS.  (a)  The provisions of this subchapter governing the election and the issuance, approval, validation, registration, and sale of bonds shall apply to refunding bonds.(b)  Refunding bonds shall be registered and delivered in the manner provided in Section 55.521 of this code.|Acts 1971, 62nd Leg., p. 471, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.525 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.525. Limiting District's Power to Incur Debt

Sec. 55.525.  LIMITING DISTRICT'S POWER TO INCUR DEBT.  (a)  The board of any district operating under the provisions of Article XVI, Section 59, of the Texas Constitution, may limit the power of the district to incur debt and issue bonds in the manner provided by this subchapter.(b)  The board may adopt a resolution declaring that for a period of not more than 10 years the district may not issue bonds in excess of 25 percent of the assessed value of taxable property of the district according to the last assessment for district purposes.|Acts 1971, 62nd Leg., p. 472, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.526 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.526. Notice of Limitation of Debt

Sec. 55.526.  NOTICE OF LIMITATION OF DEBT.  Once a week for two consecutive weeks in a newspaper published in the district, the board shall publish notice of the adoption of a resolution to limit the district's power to incur debt.  The notice shall state that the resolution will take effect unless a petition against the proposed limitation signed by 10 percent of the qualified property taxpaying electors of the district is presented within 30 days after the first publication of notice.|Acts 1971, 62nd Leg., p. 472, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.527 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.527. Limitation Election

Sec. 55.527.  LIMITATION ELECTION.  (a)  If a petition is filed under Section 55.526 of this code, the limitation of the power to incur debt will not take effect unless it is approved at a general or special election held in the district.  The election will be held in the manner provided for holding other general and special elections in the district.(b)  The ballots for the election shall be printed to provide for voting for or against the following proposition:  "Limiting during the term of ______ years, the maximum debt of the district to 25 percent of the assessed value of the real property."|Acts 1971, 62nd Leg., p. 472, ch. 58, Sec. 1, eff. Aug. 30, 1971.|
TX Water Code § 55.528 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.528. Operating Under a Limitation on Power to Incur Debt

Sec. 55.528.  OPERATING UNDER A LIMITATION ON POWER TO INCUR DEBT.  (a)  If no petition is presented under Section 55.526 of this code or if the limitation on the power to incur debt is approved at the election, the district, during the limitation period, may not issue bonds under any statute or the constitution in excess of the limited amount except to complete construction work for which bonds may be issued within the limitation.(b)  The board shall issue bonds in excess of the limitation to complete these works only after the commission has approved the plans and specifications of the original and uncompleted works together with the estimates of their cost.|Acts 1971, 62nd Leg., p. 472, ch. 58, Sec. 1, eff. Aug. 30, 1971.  Amended by Acts 1981, 67th Leg., p. 982, ch. 367, Sec. 27, eff. June 10, 1981.|
TX Water Code § 55.529 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 55 - Water Improvement Districts|Subchapter L. Issuance of Bonds|Section 55.529. Issuing Bonds in Excess of Debt Limitation

Sec. 55.529.  ISSUING BONDS IN EXCESS OF DEBT LIMITATION.  (a)  If the plans, specifications, and estimates under Section 55.528 of this code are approved by the commission, the district shall publish notice once a week for three weeks that it intends to issue bonds in excess of the debt limitation to complete the works.  The notice shall include the amount of the proposed bond issue and the time when a hearing will be held.(b)  The hearing to issue the additional bonds shall be held not less than 30 days from the date of the first publication of notice, and any property taxpayer, bondholder or other creditor, or interested person may appear and be heard.(c)  If the determination after the hearing is to issue the bonds in the amount stated in the notice, the question of whether or not the bonds should be issued shall be submitted to the voters of the district at an election held in the manner provided by law.|Acts 1971, 62nd Leg., p. 472, ch. 58, Sec. 1, eff. Aug. 30, 1971.  Amended by Acts 1981, 67th Leg., p. 982, ch. 367, Sec. 28, eff. June 10, 1981.|