Tex. Spec. Dist. Local Laws Code § 3992.0502 · 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 2021, 87th Leg., R.S., Ch. 988 (H.B. 4605), Sec. 1, eff. June 18, 2021.
Added by Acts 2021, 87th Leg., R.S., Ch. 990 (H.B. 4638), Sec. 3(a), eff. January 1, 2022.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3992.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.