Texas Special District Local Laws Code § 1116.202 Tax To Pay Bonds

Sec. 1116.202. TAX TO PAY BONDS. The board may issue bonds under Section 1116.201 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 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.

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Last modified: September 28, 2016