Tex. Spec. Dists. Code § 1118.202

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1118.202 - Tax to Pay General Obligation Bonds

The board may issue general obligation bonds only if the board imposes an ad valorem tax at a rate sufficient to create an interest and sinking fund to pay the principal of and interest on the bonds as the bonds mature.

Tex. Spec. Dist. Loc. Laws § 1118.202

Redesignated from Special District Local Laws Code, Section 1072.202 by Acts 2011, 82nd Leg., R.S., Ch. 91, Sec. 27.001(53), eff. 9/1/2011.

Added by Acts 2009, 81st Leg., R.S., Ch. 1139, Sec. 1.01, eff. 4/1/2011.