Texas Health and Safety Code 286.142 – Taxes to Pay Bonds
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(a) At the time the bonds are issued by the district, the board shall levy a tax.
(b) The tax must be sufficient to create an interest and sinking fund to pay the principal of and interest on the bonds as they mature.
Terms Used In Texas Health and Safety Code 286.142
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) In any year, the tax together with any other tax the district levies may not exceed the limit approved by the voters at the election authorizing the levy of taxes.