Tex. Spec. Dist. Local Laws Code Section 9051.255
Bonds Payable from Ad Valorem Taxes; Tax Rate

(a)

If bonds are issued payable wholly or partly from ad valorem taxes, the board shall impose a tax sufficient to pay the bonds and the interest on the bonds as the bonds and interest become due.

(b)

The board may adopt the rate of a tax imposed under Subsection (a) for any year after giving consideration to the money received from the pledged revenue that may be available for payment of principal and interest to the extent and in the manner permitted by the resolution authorizing the issuance of the bonds.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.

Source: Section 9051.255 — Bonds Payable from Ad Valorem Taxes; Tax Rate, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­9051.­htm#9051.­255 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 9051.255’s source at texas​.gov