Section 1001.352 - Tax to Pay General Obligation Bonds(a) The governing body 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 general obligation bonds as the bonds mature.(b) The tax required by this section together with any other tax the district imposes in any year may not exceed 75 cents on each $100 valuation of all taxable property in the district.Tex. Spec. Dist. Loc. Laws § 1001.352
Added by Acts 2005, 79th Leg., Ch. 729, Sec. 1.01, eff. 4/1/2007.