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Tex. Government Code § 1471.013

TAX ANTICIPATION NOTES

Texas · Texas Government Code · Status: effective

Taxation
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Tex. Government Code § 1471.013, TAX ANTICIPATION NOTES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/660652
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(a) A political subdivision may issue tax anticipation notes authorized by Section 1471.012 for any purpose for which the political subdivision is authorized to impose taxes under Subtitle C, Title 6, Transportation Code. (b) Tax anticipation notes must be secured by the proceeds of taxes to be imposed in the succeeding 12 months. (c) The commissioners court may covenant with purchasers of the notes to impose a tax sufficient to pay: (1) the principal of and interest on the notes; and (2) the costs of collecting the taxes.