Texas Water Code

§ 51.803 — TAX TO PAY DISSOLUTION BONDS

WA § 51.803Title 4. GENERAL LAW DISTRICTS · Ch. 51. WATER CONTROL AND IMPROVEMENT DISTRICTS · Art. P. DISSOLUTION OF DISTRICT

Statute text

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The order issuing the dissolution bonds shall provide that the principal of and interest on the bonds shall be payable from the proceeds of a tax to be levied on the taxable property located in the district. The tax shall be in an amount sufficient for the payment of the principal and interest.

Legislative history

Acts 1971, 62nd Leg., p. 381, ch. 58, Sec. 1, eff. Aug. 30, 1971.