Sec. 1509.009. IMPOSITION OF TAX. (a) The governing body of a municipality may annually impose ad valorem taxes to pay the principal of and interest on bonds issued under this subchapter that are payable in whole or in part from ad valorem taxes only if the taxes are approved at an election held under Section 1509.005.
(b) A municipality may not impose ad valorem taxes to pay the principal of or interest on bonds issued under this subchapter payable wholly from revenue from one or more leases or other contracts made under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle J - Specific Authority for Municipalities to Issue Securities
Chapter 1509 - Obligations for Other Municipal Purposes
Subchapter A. Bonds for Facilities to Be Sold or Leased to Public or Private Entities
Section 1509.001. Authority to Acquire Property for Lease to Public or Private Entity
Section 1509.002. Authority to Acquire Property for Sale or Lease to Institution of Higher Education
Section 1509.003. Authority to Issue Bonds
Section 1509.004. Bond Payments From Revenue or Taxes
Section 1509.005. Election Required to Secure Bonds With Tax Revenue
Section 1509.006. Contents of Ordinance, Order, or Resolution Authorizing Bonds
Section 1509.007. Adoption and Execution of Documents
Section 1509.009. Imposition of Tax
Section 1509.010. Grants for Prisons or Law Enforcement Facilities Not Prohibited