Texas Special District Local Laws Code
Sec. § 8269.204
Taxes for Bonds

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


the board shall impose a continuing direct annual ad valorem tax, without limit as to rate or amount, 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 as the interest becomes due;


create a sinking fund for the payment of the principal of the bonds 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. 1132 (H.B. 4079), Sec. 1, eff. June 15, 2007.
Last accessed
Feb. 27, 2021