Section 6613.152 - District Funds(a) The interest and sinking fund consists of taxes collected for the fund. Money in the interest and sinking fund may be paid out only to: (1) pay district bonds and satisfy and discharge interest on the bonds; and(2) defray the expense of imposing a tax for the fund.(b) The maintenance and improvement fund consists of money collected by assessment or other sources for:(1) the maintenance of property owned or acquired by the district;(2) necessary improvements to be made by the district; and(3) the general purposes of the district.Tex. Spec. Dist. Loc. Laws § 6613.152
Added by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 855,Sec. 1.01, eff. 4/1/2017.