Tex. Spec. Dist. Local Laws Code § 1121.202 · 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 1121.201, the board shall impose an ad valorem tax in an amount 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 taxes.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 141 (S.B. 2034), Sec. 1, eff. May 28, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1121.htm
- Text hash
- sha256 c0ed16e134954f4b2e8e5b40f56ac917b13eb1e5488bb48f2a9f8c180cca86ca
- 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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