Sec. 36.179. TAX STATUS OF BONDS AND NOTES. Since a district governed by this chapter is a public entity performing an essential public function, bonds and notes issued by the district, any transaction relating to the bonds and notes, and profits made in the sale of the bonds and notes, are free from taxation by the state or by any city, county, special district, or other political subdivision of the state.
Added by Acts 1995, 74th Leg., ch. 933, Sec. 2, eff. Sept. 1, 1995.
Structure Texas Statutes
Title 2 - Water Administration
Subtitle E - Groundwater Management
Chapter 36 - Groundwater Conservation Districts
Section 36.171. Issuance of Bonds and Notes
Section 36.172. Manner of Repayment of Bonds and Notes
Section 36.173. Additional Security for Bonds and Notes
Section 36.174. Form of Bonds or Notes
Section 36.175. Provisions of Bonds and Notes
Section 36.176. Refunding Bonds
Section 36.177. Bonds and Notes as Investments
Section 36.178. Bonds and Notes as Security for Deposits
Section 36.179. Tax Status of Bonds and Notes
Section 36.181. Approval by Attorney General; Registration by Comptroller