Tex. Spec. Dist. Local Laws Code § 1085.202 · 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 1085.201, the board shall impose an ad valorem tax at a rate sufficient to create an interest and sinking fund and 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 ad valorem tax the district imposes may not in any year exceed the lesser of:
(1) the maximum tax rate approved by district voters; or
(2) 75 cents on each $100 valuation of all taxable property in the district.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1085.htm
- Text hash
- sha256 b122834af7a6bfef609df5f0176ebbf5adb0034db740fea73022d6a695ef913b
- 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
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Special District Local Laws Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.