Texas Special District Local Laws Code § 21.402 Bond Payment

Sec. 21.402. BOND PAYMENT. The board may provide for the payment of the principal of and interest on the bonds:

(1) from the imposition of property taxes on all taxable property in the district;

(2) by pledging all or part of the designated revenue from the ownership or operation of the district's works, improvements, and facilities; or

(3) from a combination of the sources listed by Subdivisions (1) and (2).

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.01, eff. April 1, 2009.

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Last modified: September 28, 2016