Texas Special District Local Laws Code § 1049.202 Tax To Pay Bonds

Sec. 1049.202. TAX TO PAY BONDS. The board may issue bonds under Section 1049.201 only if the board imposes an ad valorem tax at a rate sufficient to create an interest and sinking fund to pay the principal of and interest on the bonds as the bonds mature.

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

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Last modified: September 28, 2016