Sec. 1064.252. TAX TO PAY GENERAL OBLIGATION BONDS. (a) At the time general obligation bonds are issued under Section 1064.251, 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 the tax rate approved by the voters at the election authorizing the imposition of the tax.
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Hospital Districts
Chapter 1064 - Moore County Hospital District
Section 1064.251. General Obligation Bonds, Certificates of Obligation, and Other Financing
Section 1064.252. Tax to Pay General Obligation Bonds
Section 1064.253. General Obligation Bond Election
Section 1064.254. Revenue Bonds
Section 1064.255. Refunding Bonds
Section 1064.256. Maturity of Bonds