Tex. Spec. Dist. Local Laws Code Section 3889.203
Taxes for Bonds and Other Obligations

At the time bonds or other obligations payable wholly or partly from ad valorem taxes are issued:

(1)

the board shall impose a continuing direct annual ad valorem tax for each year that all or part of the bonds are outstanding; and

(2)

the district annually shall impose an ad valorem tax on all taxable property in the district in an amount sufficient to:

(A)

pay the interest on the bonds or other obligations as the interest becomes due; and

(B)

create a sinking fund for the payment of the principal of the bonds or other obligations when due or the redemption price at any earlier required redemption date.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1192 (H.B. 3828), Sec. 1, eff. June 17, 2011.

Source: Section 3889.203 — Taxes for Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3889.­htm#3889.­203 (accessed May 4, 2024).

3889.001
Definitions 3889.002
Creation and Nature of District 3889.003
Purpose 3889.004
Findings of Benefit and Public Purpose 3889.005
District Territory 3889.006
Eligibility for Inclusion in Special Zones 3889.007
Applicability of Municipal Management Districts Law 3889.008
Liberal Construction of Chapter 3889.051
Governing Body 3889.052
Qualifications of Directors Appointed by City 3889.053
Appointment of Directors 3889.054
Vacancy 3889.055
Director’s Oath or Affirmation 3889.056
Quorum 3889.057
Officers 3889.058
Compensation 3889.059
Liability Insurance 3889.060
No Executive Committee 3889.061
Board Meetings 3889.101
General Powers and Duties 3889.102
Improvement Projects and Services 3889.103
Development Corporation Powers 3889.104
Nonprofit Corporation 3889.105
Agreements 3889.106
Law Enforcement Services 3889.107
Membership in Charitable Organizations 3889.108
Economic Development 3889.109
Parking Facilities 3889.110
No Eminent Domain Power 3889.151
Disbursements and Transfers of Money 3889.152
Money Used for Improvements or Services 3889.153
Petition Required for Financing Services and Improvements with Assessments 3889.154
Method of Notice for Hearing 3889.155
Assessments 3889.156
Limitation on Amount of Certain Assessments 3889.157
Tax and Assessment Abatements 3889.201
Bonds and Other Obligations 3889.202
Bond Maturity 3889.203
Taxes for Bonds and Other Obligations 3889.204
Elections Regarding Taxes 3889.251
Dissolution by City Ordinance 3889.252
Collection of Assessments and Other Revenue 3889.253
Concurrence on Additional Powers 3889.254
Assumption of Assets and Liabilities
Green check means up to date. Up to date

Accessed:
May 4, 2024

§ 3889.203’s source at texas​.gov