Tex. Spec. Dist. Local Laws Code § 1010.202 · 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 under Section 1010.201, the board shall impose an ad valorem tax on all property in the district subject to district taxation at a rate sufficient to:
(1) pay the interest on the bonds as the interest comes due; and
(2) provide and maintain a sinking fund adequate to pay the principal on the bonds as the principal matures.
(b) The tax required by this section together with any other ad valorem tax the district imposes may not in any year exceed 75 cents on each $100 valuation of taxable property in the district.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1010.htm
- Text hash
- sha256 bd4f4a3f1c0390394157cdfdda95e93a70cf2d7f373f565283eec1f3bba26db2
- 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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