Sec. 55.517. ADJUSTMENT OF TAX LEVY. The tax which is levied in connection with the original bond issue shall remain in force for that purpose until a new levy is made. The board may, from time to time, increase or diminish the tax for the purpose of adjusting the tax to the taxable values of taxable property in the district and the amount to be collected, and the increase or decrease in the tax shall be sufficient to provide enough money in the interest and sinking fund to make annual payments on outstanding bonds.
Acts 1971, 62nd Leg., p. 470, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Section: Previous 55.507 55.509 55.510 55.513 55.514 55.515 55.516 55.517 55.518 55.519 55.520 55.521 55.522 55.523 55.524 NextLast modified: September 28, 2016