Sec. 9001.202.  LIMIT ON BONDS AND OTHER OBLIGATIONS.  (a)  Bonds, notes, or other obligations issued or incurred by the district under Section 53.029, Water Code, may not exceed one-fourth of the assessed value of the real property in the district.
(b)  The district may not issue bonds until a development agreement between the City of Celina and the district has been signed.
Added by Acts 2005, 79th Leg., Ch. 446 (S.B. 1828), Sec. 1, eff. June 17, 2005.