Sec. 1032.202. TAX TO PAY GENERAL OBLIGATION BONDS. (a) At the time general obligation bonds are issued by the district under Section 1032.201, the board shall impose 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.
(b) The tax required by this section together with any other ad valorem tax the district imposes may not in any year exceed 75 cents on each $100 valuation of all taxable property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Hospital Districts
Chapter 1032 - Gonzales Healthcare Systems
Section 1032.201. General Obligation Bonds
Section 1032.202. Tax to Pay General Obligation Bonds
Section 1032.203. General Obligation Bond Election
Section 1032.204. Maturity of General Obligation Bonds
Section 1032.205. Execution of General Obligation Bonds
Section 1032.206. Revenue Bonds
Section 1032.207. Refunding Bonds
Section 1032.208. Bonds Exempt From Taxation
Section 1032.209. Additional Means of Securing Repayment of Bonds