1009.203 – GENERAL OBLIGATION BOND ELECTION. (a) The
Texas Special District Local Laws Code § 1009.203
Summary
This law requires that a district can only issue general obligation bonds if a majority of voters approve them in an election. The district's board is responsible for calling the election and must follow specific guidelines for its conduct.
Bonds require majority voter approval in an election.
The board must call and organize the election.
Election details must include date, amount, maturity, and interest.
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In simple terms: Learn about Texas's GENERAL OBLIGATION BOND ELECTION. (a) The law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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