Texas Special District Local Laws Code - Section 1004.252. Tax To Pay General Obligation Bonds
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§ 1004.252. TAX TO PAY GENERAL OBLIGATION BONDS. (a) At
the time general obligation bonds are issued by the district under
Section 1004.251, the board shall impose an ad valorem tax in an
amount sufficient to create an interest and sinking fund to pay the
principal of and interest on the 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 the limit
approved by the voters at the election authorizing the imposition
of taxes.
Added by Acts 2005, 79th Leg., ch. 729, § 1.01, eff. April 1,
2007.
Section: 1004.206 1004.207 1004.208 1004.209 1004.210 1004.211 1004.251 1004.252 1004.253 1004.254 1004.255 1004.256 1004.257 1004.301 1004.302
Last modified: August 10, 2007
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