Tex. Spec. Dist. Local Laws Code Section 3937.206
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 2015, 84th Leg., R.S., Ch. 879 (H.B. 4158), Sec. 1, eff. June 18, 2015.

Source: Section 3937.206 — Taxes for Bonds and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3937.­htm#3937.­206 (accessed Jun. 5, 2024).

3937.001
Definitions 3937.002
Creation and Nature of District 3937.003
Purpose 3937.004
Findings of Benefit and Public Purpose 3937.005
District Territory 3937.006
Applicability of Municipal Management Districts Law 3937.007
Construction of Chapter 3937.051
Governing Body 3937.052
Qualifications of Directors Appointed by County 3937.053
Appointment of Directors 3937.054
Vacancy 3937.055
Director’s Oath or Affirmation 3937.056
Quorum 3937.057
Officers 3937.058
Compensation 3937.059
Liability Insurance 3937.060
No Executive Committee 3937.061
Board Meetings 3937.101
General Powers and Duties 3937.102
Improvement Projects and Services 3937.103
Location of Improvement Project 3937.104
Development Corporation Powers 3937.105
Nonprofit Corporation 3937.106
Agreements 3937.107
Law Enforcement Services 3937.108
Membership in Charitable Organizations 3937.109
Economic Development 3937.110
Real Property Restrictions 3937.111
Designation of Special Zones 3937.112
Concurrence on Additional Powers 3937.113
No Eminent Domain Power 3937.151
Disbursements and Transfers of Money 3937.152
Money Used for Improvements or Services 3937.153
General Powers Regarding Payment of District Bonds, Obligations, or Other Costs 3937.154
Petition Required for Financing Services and Improvements with Assessments 3937.155
Assessments 3937.156
Storm Water User Charges 3937.157
Nonpotable Water User Charges 3937.158
Costs for Improvement Projects 3937.159
Tax and Assessment Abatements 3937.201
Tax Abatement 3937.202
Property Tax Authorized 3937.203
Sales and Use Tax 3937.204
Bonds and Other Obligations 3937.205
Bond Maturity 3937.206
Taxes for Bonds and Other Obligations 3937.251
Dissolution by Ordinance 3937.252
Collection of Assessments and Other Revenue 3937.253
Assumption of Assets and Liabilities
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3937.206’s source at texas​.gov