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Tex. Special District Local Laws Code § 1035.252

TAX TO PAY GENERAL OBLIGATION BONDS

Texas · Texas Special District Local Laws Code · Status: effective

Taxation
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Tex. Special District Local Laws Code § 1035.252, TAX TO PAY GENERAL OBLIGATION BONDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/586802
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(a) At the time general obligation bonds are issued under Section 1035.251, an ad valorem tax shall be imposed 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 together with any other ad valorem tax imposed for the district may not in any year exceed 75 cents on each $100 valuation of all taxable property in the district.