Sec. 1083.202. TAX TO PAY GENERAL OBLIGATION BONDS. (a) At the time general obligation bonds are issued by the district under Section 1083.201, the board shall impose an ad valorem tax at a rate sufficient to create an interest and sinking fund and 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 ad valorem tax the district imposes may not in any year exceed 75 cents on each $100 valuation of taxable property in the district.
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.
Section: Previous 1083.111 1083.151 1083.152 1083.153 1083.154 1083.155 1083.201 1083.202 1083.203 1083.204 1083.2045 1083.205 1083.206 1083.207 1083.208 NextLast modified: September 28, 2016