DecisionDepot
California legal research

Texas Special District Local Laws Code

§ 1035.252 — TAX TO PAY GENERAL OBLIGATION BONDS

SD § 1035.252Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1035. DEWITT MEDICAL DISTRICT · Art. F. BONDS

Statute text

View on source
(a)At the time general obligation bonds are issued under Section 1035.251, an ad valorem tax shall be imposed at a rate sufficient to create an interest and sinking fund to pay the principal of and interest on the bonds as the bonds mature.
(b)The tax required by this section together with any other ad valorem tax imposed for the district may not in any year exceed 75 cents on each $100 valuation of all taxable property in the district.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.

Source: Texas Special District Local Laws Code § 1035.252 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.