Texas Water Code

§ 56.241 — LEVY OF TAXES TO PAY FOR BONDS

WA § 56.241Title 4. GENERAL LAW DISTRICTS · Ch. 56. DRAINAGE DISTRICTS · Art. G. TAXATION PROVISIONS

Statute text

After bonds are authorized at an election, the board shall have taxes annually assessed and collected on all property in the district sufficient to pay interest and principal on the bonds. Taxes collected under this section shall be placed in the interest and sinking fund.

Legislative history

Acts 1971, 62nd Leg., p. 519, ch. 58, Sec. 1, eff. Aug. 30, 1971. Amended by Acts 2001, 77th Leg., ch. 298, Sec. 13, eff. Sept. 1, 2001.