When it comes to financing, public education can be an arduous task. In some cases, the initial step is to set aside some stifling assumptions: If we can’t pay cash, it’s not worth doing. The voters will never go for it. If I obligate the county to this debt, some of the constituents will not […]
KEY CONCEPT: Public Finance Options
KEY QUESTION: Can a county finance debt?
MAIN REFERENCE POINTS: Article XI, Section 7 of the Texas Constitution – a county that borrows money is required to establish an interest and sinking fund. Texas Government Code Chapter 1251 – bond election provisions. Texas Government Code Chapter 1431 – authorizes the issuance of tax notes. Texas Local Government Code Chapter 271, Subchapter C […]
Attorney General Opinions
Bond Election for City Roads Re: Whether a county may call a bond election to fund the construction, repair, improvement, and maintenance of city roads (RQ-0319-KP). Submitted by Lilli A. Hensley Sterling County Attorney Summary, Opinion No. KP-311: A county may call a bond election under Texas Constitution article III, section 52(b) or (c) […]
