Texas Water Code 51.803 – Tax to Pay Dissolution Bonds
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Terms Used In Texas Water Code 51.803
- Property: means real and personal property. See Texas Government Code 311.005
The order issuing the dissolution bonds shall provide that the principal of and interest on the bonds shall be payable from the proceeds of a tax to be levied on the taxable property located in the district. The tax shall be in an amount sufficient for the payment of the principal and interest.