Sec. 1477.056. AMOUNT OF TAX. (a) If bonds issued under this subchapter are to be secured by a tax, the commissioners court shall impose a tax sufficient to pay the interest on the bonds as the interest accrues and the principal as the principal matures.
(b) The order authorizing the issuance of bonds may provide that the amount of tax to be collected each year may be reduced to the extent money is available from pledged project revenue for the payment of interest and principal.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle I - Specific Authority for Counties to Issue Securities
Chapter 1477 - Obligations for Other County Purposes
Subchapter B. Bonds for Water Supply for County Purposes
Section 1477.051. Applicability of Subchapter
Section 1477.053. Authority to Acquire Water Supply
Section 1477.054. Limitation on Cost
Section 1477.055. Authority to Issue Bonds and Impose Ad Valorem Taxes
Section 1477.056. Amount of Tax
Section 1477.058. Contents of Order Authorizing Bonds
Section 1477.060. Signatures; Registration by County Treasurer
Section 1477.061. Sale of Bonds
Section 1477.062. Use of Bond Proceeds
Section 1477.063. Additional Bonds
Section 1477.064. Rates and Charges
Section 1477.065. Taxes Pledged to Pay Bonds
Section 1477.066. Bondholder's Right to Mandamus
Section 1477.067. Refunding Bonds
Section 1477.068. Exemption From Assessment or Taxation
Section 1477.069. County Use of Water
Section 1477.070. Sale of Water Not Needed for County Purposes
Section 1477.071. Eminent Domain