Texas Education Code - Section 41.159. Taxes Of Component Districts
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§ 41.159. TAXES OF COMPONENT DISTRICTS. (a) The
governing board of a component school district of a consolidated
taxing district that has consolidated for maintenance and operation
purposes only may issue bonds and levy, pledge, and collect ad
valorem taxes within that component district sufficient to pay the
principal of and interest on those bonds as provided by Chapter 45.
(b) A component district levying an ad valorem tax under
this section or Section 41.160(b)(1) is entitled to the guaranteed
yield provided by Subchapter F, Chapter 42, for that portion of its
tax rate that, when added to the maintenance tax levied by the
consolidated taxing unit, does not exceed the limitation provided
by Section 42.303.
Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. May 30, 1995.
Section: 41.152 41.153 41.154 41.155 41.156 41.157 41.158 41.159 41.160 41.201 41.202 41.203 41.204 41.205 41.206
Last modified: August 10, 2007
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