Sec. 1057.202. TAX TO PAY GENERAL OBLIGATION BONDS. (a) An ad valorem tax shall be imposed 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 1057.201 as the bonds mature.
(b) The tax required by this section together with any other ad valorem tax imposed for the district 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 1057.108 1057.109 1057.110 1057.151 1057.152 1057.153 1057.201 1057.202 1057.203 1057.204 1057.205 1057.206 1057.207 1057.251 1057.252 NextLast modified: September 28, 2016