Section 1003.202 - Taxes to Pay General Obligation Bonds(a) The board shall impose an ad valorem tax in an amount sufficient to create an interest and sinking fund to pay the principal of and interest on the general obligation bonds as they 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 assessed value of the property according to the most recent certified tax appraisal roll of the district.Tex. Spec. Dist. Loc. Laws § 1003.202
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. 4/1/2005.