Tex. Spec. Dist. Local Laws Code § 1005.202 · Subchapter E. BONDS
TAX TO PAY GENERAL OBLIGATION BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) At the time general obligation bonds are issued by the district under Section 1005.201, the board shall impose an ad valorem tax at a rate sufficient to create an interest and sinking fund to pay the principal of and interest on the bonds as the bonds mature.
(b) The tax required by this section together with any other tax the district imposes in any year may not exceed the limit approved by the voters at the election authorizing the imposition of the tax.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1005.htm
- Text hash
- sha256 fb67f6d4b5094de50935f2b29780c5f8720a915fdf61926f48c22733483fef8a
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
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Special District Local Laws Code
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