Sec. 1029.202. TAX TO PAY GENERAL OBLIGATION BONDS. (a) The board 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 general obligation bonds issued under Section 1029.201.
(b) The tax required by this section together with any other ad valorem tax the district imposes may not in any year exceed 75 cents on each $100 valuation of all taxable property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Section: Previous 1029.109 1029.110 1029.151 1029.152 1029.153 1029.154 1029.155 1029.201 1029.202 1029.203 1029.204 1029.205 1029.206 1029.251 1029.252 NextLast modified: September 28, 2016