Tex. Spec. Dist. Local Laws Code § 3964.0502 · Subchapter E. TAXES AND BONDS
TAXES FOR BONDS AND OTHER OBLIGATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
At the time bonds or other obligations payable wholly or partly from ad valorem taxes are issued:
(1) the board shall impose a continuing direct annual ad valorem tax for each year that all or part of the bonds are outstanding; and
(2) the board annually shall impose an ad valorem tax on all taxable property in the district in an amount sufficient to:
(A) pay the interest on the bonds or other obligations as the interest becomes due; and
(B) create a sinking fund for the payment of the principal of the bonds or other obligations when due or the redemption price at any earlier required redemption date.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 535 (H.B. 2077), Sec. 1, eff. June 10, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3964.htm
- Text hash
- sha256 96feaaa45104526858d6bc9868a2cfd6acd53cd843361ba677e46b74c32d7717
- 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
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.