Tex. Spec. Dist. Local Laws Code § 9023.156 · Subchapter D. BONDS
BONDS SECURED BY AD VALOREM TAXES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) This section does not apply to district bonds secured only by a pledge of net revenues as defined by Section 9023.155(a).
(b) If bonds have been voted, the board shall impose a continuing ad valorem tax on all property in the district sufficient:
(1) to pay the principal of and interest on the bonds as the principal and interest respectively mature;
(2) to create and maintain any reserve required by the resolution or resolutions authorizing the issuance of the bonds;
(3) to pay the expense of assessing and collecting the tax; and
(4) for anticipated delinquencies in the tax payments.
(c) The board annually shall determine and set or cause to be determined and set the rate of the ad valorem tax to be imposed under this section.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9023.htm
- Text hash
- sha256 7222879d0f7ccfa736f401e49b343614e976cd3909ab8917b4f410847e40bca8
- 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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