Sec. 56.241. LEVY OF TAXES TO PAY FOR BONDS. After bonds are authorized at an election, the board shall have taxes annually assessed and collected on all property in the district sufficient to pay interest and principal on the bonds. Taxes collected under this section shall be placed in the interest and sinking fund.
Acts 1971, 62nd Leg., p. 519, ch. 58, Sec. 1, eff. Aug. 30, 1971. Amended by Acts 2001, 77th Leg., ch. 298, Sec. 13, eff. Sept. 1, 2001.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 56 - Drainage Districts
Subchapter G. Taxation Provisions
Section 56.241. Levy of Taxes to Pay for Bonds
Section 56.242. Maintenance Tax
Section 56.247. Levying Taxes on the Benefit Basis
Section 56.248. Authorizing Taxation on the Benefit Basis for Newly Created Districts
Section 56.249. Authorizing Taxation on the Benefit Basis for Existing District
Section 56.250. Law Governing Districts Levying Taxes on the Benefit Basis