Tex. Spec. Dist. Local Laws Code Section 8300.202
Taxes for Bonds

At the time bonds payable in whole or in part from ad valorem taxes are issued:

(1)

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

(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 as the interest becomes due;

(B)

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

(C)

pay the expenses of imposing the taxes.
Added by Acts 2007, 80th Leg., R.S., Ch. 170 (S.B. 1977), Sec. 1, eff. May 22, 2007.
Renumbered from Special District Local Laws Code, Section 8210.202 (Bonds for Road Projects) by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(83), eff. September 1, 2009.

Source: Section 8300.202 — Taxes for Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­8300.­htm#8300.­202 (accessed Apr. 20, 2024).

Green check means up to date. Up to date

Accessed:
Apr. 20, 2024

§ 8300.202’s source at texas​.gov