When the Board discusses the budget along with the maintenance and capital improvements that are required, then the Board may determine the need for a bond to accomplish specific goals.
Seis Lagos Utility District (SLUD) may not issue bonds that are to be paid from ad valorem taxes unless the issuance is first approved by the qualified voters of SLUD.
The general election laws govern the election including public notices to be provided.
The notices and ballot shall specifically state:
- a general description of the purposes for which the debt obligations are to be authorized;
- the total principal amount of the debt obligations to be authorized; and
- that taxes sufficient to pay the principal of and interest on the debt obligations will be imposed.
No bond elections scheduled at this time.