Sec. 1100.252. TAX TO PAY GENERAL OBLIGATION BONDS. (a) At the time general obligation bonds are issued by the district, 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 the bonds as the bonds mature.
(b) The tax required by this section may not in any year exceed 75 cents on each $100 valuation of all taxable property in the district subject to hospital district taxation.
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.
Section: Previous 1100.206 1100.207 1100.208 1100.209 1100.210 1100.211 1100.251 1100.252 1100.253 1100.254 1100.255 1100.256 1100.257 1100.258 1100.301 NextLast modified: September 28, 2016