Sec. 1069.252. TAX TO PAY GENERAL OBLIGATION BONDS. (a) At the time general obligation bonds are issued by the district, 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 imposed for the district may not in any year exceed 75 cents on each $100 valuation of all taxable property in the district subject to hospital district taxation.
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Hospital Districts
Chapter 1069 - Nacogdoches County Hospital District
Subchapter F. Bonds and Other Obligations
Section 1069.251. General Obligation Bonds
Section 1069.252. Tax to Pay General Obligation Bonds
Section 1069.253. General Obligation Bond Election
Section 1069.254. Refunding Bonds
Section 1069.255. Maturity of Bonds
Section 1069.256. Execution of Bonds