Texas Education Code - Section 41.160. Optional Total Tax Base Consolidation
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§ 41.160. OPTIONAL TOTAL TAX BASE CONSOLIDATION. (a) An
agreement executed under Section 41.151 may provide for total tax
base consolidation instead of consolidation for maintenance and
operation purposes only.
(b) Under an agreement providing for total tax base
consolidation:
(1) the component districts may not levy maintenance
or bond taxes, except to the extent necessary to retire bonds and
other obligations issued before the effective date of the
consolidation;
(2) the joint board may issue bonds and levy, pledge,
and collect ad valorem taxes sufficient to pay the principal of and
interest on those bonds, and issue refunding bonds, as provided by
Chapter 45 for independent school districts; and
(3) to the end of the ballot proposition required
under Section 41.153(a) shall be added ", and further to create a
consolidated tax base for the repayment of all bonded indebtedness
issued by the joint board of the taxing district after the effective
date of the consolidation and to authorize the joint board to levy,
pledge, and collect ad valorem taxes at a rate sufficient to pay the
principal of and interest on those bonds."
(c) Under an agreement providing for total tax base
consolidation:
(1) the component districts may provide for the
consolidated taxing district to assume all of the indebtedness of
all component districts; and
(2) to the end of the ballot proposition required by
Section 41.153(a) shall be added ", and further to create a
consolidated tax base for the repayment of all bonded indebtedness
issued by the joint board of the taxing district or previously
issued by the component school districts and to authorize the joint
board to levy, pledge, and collect ad valorem taxes at a rate
sufficient to pay the principal of and interest on those bonds."
Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. May 30, 1995.
Section: 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 41.207
Last modified: August 10, 2007
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