Tex. Water Code § 53.186 · Subchapter F. BOND AND TAX PROVISIONS
INTEREST AND SINKING FUND.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A district shall have an interest and sinking fund. The board shall credit to this fund all taxes collected for the payment of interest or redemption of district bonds.
(b) The board shall use money in this fund only:
(1) to pay interest on district bonds;
(2) to cancel and surrender district bonds; and
(3) to pay the expenses of assessing and collecting the taxes.
Notes and commentary — not statutory text
History
Acts 1971, 62nd Leg., p. 418, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.53.htm
- Text hash
- sha256 fb9c3d8e2641ec0a2132495af90deccbd8c9bc832848e721341b83136c9e3919
- 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.