Texas Special District Local Laws Code - Section 1001.352. Tax To Pay General Obligation Bonds

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§ 1001.352. TAX TO PAY GENERAL OBLIGATION BONDS.  (a) The 
governing body shall impose an ad valorem tax at a rate sufficient 
to create an interest and sinking fund to pay the principal of and 
interest on the general obligation bonds as the bonds mature.
	(b)  The tax required by this section together with any other 
tax the district imposes in any year may not exceed 75 cents on each 
$100 valuation of all taxable property in the district.

Added by Acts 2005, 79th Leg., ch. 729, § 1.01, eff. April 1, 
2007.      

Last modified: August 10, 2007