Texas Education Code

§ 49.260 — OPTIONAL TOTAL TAX BASE CONSOLIDATION

ED § 49.260Title 2. PUBLIC EDUCATION · Part I. SCHOOL FINANCE AND FISCAL MANAGEMENT · Ch. 49. OPTIONS FOR LOCAL REVENUE LEVELS IN EXCESS OF ENTITLEMENT · Art. F. TAX BASE CONSOLIDATION

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(a)An agreement executed under Section 49.251 may provide for total tax base consolidation instead of consolidation for maintenance and operation purposes only.

(b)Under an agreement providing for total tax base consolidation:

(1)the component districts may not levy maintenance or bond taxes, except to the extent necessary to retire bonds and other obligations issued before the effective date of the consolidation;

(2)the joint board may issue bonds and levy, pledge, and collect ad valorem taxes sufficient to pay the principal of and interest on those bonds, and issue refunding bonds, as provided by Chapter 45 for independent school districts; and

(3)to the end of the ballot proposition required under Section 49.253(a) shall be added ", and further to create a consolidated tax base for the repayment of all bonded indebtedness issued by the joint board of the taxing district after the effective date of the consolidation and to authorize the joint board to levy, pledge, and collect ad valorem taxes at a rate sufficient to pay the principal of and interest on those bonds."

(c)Under an agreement providing for total tax base consolidation:

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Legislative history

Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995. Transferred, redesignated and amended from Education Code, Subchapter F, Chapter 41 by Acts 2019, 86th Leg., R.S., Ch. 943 (H.B. 3), Sec. 1.058, eff. September 1, 2019.