Sec. 6902.206. BONDS PAYABLE FROM PROPERTY TAXES. (a) If bonds are issued payable wholly or partly from property taxes, the board must impose a tax on the taxable property in the district in an amount sufficient to pay the principal of and interest on the bonds.
(b) The district may adopt the rate of a tax imposed under Subsection (a) after giving consideration to the money received from the pledged revenue that may be available for payment of principal and interest, to the extent and in the manner permitted by the resolution authorizing the issuance of the bonds.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.06, eff. April 1, 2009.
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