Sec. 1002.303.  GENERAL OBLIGATION BOND ELECTION.  (a)  The district may issue general obligation bonds only if the bonds are authorized by a majority of the voters voting in an election held for that purpose.
(b)  The board may call the election on its own motion.  The order calling the election must specify:
(1)  the date of the election;
(2)  the place or places where the election will be held;
(3)  the names of the presiding election officers;
(4)  the purpose for which the bonds are to be issued;
(5)  the amount of the bonds;
(6)  the maximum interest rate of the bonds;  and
(7)  the maximum maturity of the bonds, which may not exceed 40 years from the date of issuance.
(c)  Notice of a bond election shall be given by publishing a substantial copy of the order calling the election in a newspaper of general circulation in the district as provided by Section 4.003(a)(1), Election Code.
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.