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Texas Special District Local Laws Code

§ 1046.202 — TAX TO PAY GENERAL OBLIGATION BONDS

SD § 1046.202Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1046. JACKSON COUNTY HOSPITAL DISTRICT · Art. E. BONDS

Statute text

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(a)At the time general obligation bonds are issued by the district under Section 1046.201, the board shall impose an ad valorem tax 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 the district imposes may not in any year exceed 75 cents on each $100 valuation of all taxable property in the district.

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Source: Texas Special District Local Laws Code § 1046.202 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.