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Tex. Special District Local Laws Code § 1059.202

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 § 1059.202, TAX TO PAY GENERAL OBLIGATION BONDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/588249
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(a) At the time general obligation bonds are issued by the district under Section 1059.201, the board shall impose 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. (b) The tax required by this section together with any other ad valorem tax the district imposes may not in any year exceed the limit approved by the voters at the election authorizing the imposition of the tax.