Texas Special District Local Laws Code
Sec. § 8221.202
Taxes for Bonds and Other Obligations

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


the board shall impose a continuing direct annual ad valorem tax, at a rate not to exceed the rate approved at an election held under Section 8221.151, for each year that all or part of the bonds are outstanding; and


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


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


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; and


pay the expenses of imposing the taxes.
Added by Acts 2007, 80th Leg., R.S., Ch. 1131 (H.B. 4072), Sec. 1, eff. June 15, 2007.
Last accessed
Apr. 14, 2021