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Texas Special District Local Laws Code

§ 1056.202 — TAX TO PAY GENERAL OBLIGATION BONDS

SD § 1056.202Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1056. MARTIN COUNTY HOSPITAL DISTRICT · Art. E. BONDS

Statute text

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(a)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 bonds issued under Section 1056.201 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 taxable property in the district. Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011. Amended by:

Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 91 (S.B. 1303), Sec. 22.004(b), eff. September 1, 2011.

Source: Texas Special District Local Laws Code § 1056.202 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.