Sec. 6611.201. AUTHORITY TO ISSUE BONDS; TAXES FOR BONDS. (a) The board may issue district bonds to acquire money to accomplish any district purpose or carry out any power granted under this chapter to the district.
(b) The board may impose a tax on all taxable property in the district, as shown by the most recent certified appraisal roll of the district, sufficient to:
(1) provide for the payment of the interest on the bonds as the interest accrues; and
(2) create a sinking fund for the redemption of the bonds as the bonds mature.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.01, eff. April 1, 2017.
Text of section effective on April 01, 2017
Last modified: September 28, 2016