Sec. 571.006. TAX; BONDS. (a) The commissioners court or municipal authority may impose a tax to pay the debt incurred under Section 571.002. The rate of the tax in any year may not exceed 50 cents on each $100 of the taxable value of property taxable by the county or municipality.
(b) The commissioners court or municipal authority may issue bonds under this subchapter for the payment of the debt, but, if revenue from the tax will not pay off the debt within five years, the commissioners court or municipal authority shall issue bonds for the payment of the debt.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 16, eff. Sept. 1, 1999.
Renumbered from Local Government Code, Section 421.006 by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.76(c)(1), eff. April 1, 2009.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.77(19), eff. April 1, 2009.
Structure Texas Statutes
Title 13 - Water and Utilities
Subtitle C - Water Provisions Applying to More Than One Type of Local Government
Chapter 571 - Seawalls and Levees in Coastal Municipalities and Counties
Subchapter A. Authority of County or Municipality Bordering Gulf
Section 571.001. Applicability of Subchapter
Section 571.002. Authorized Projects; Debt
Section 571.003. Use of Public Property
Section 571.004. Acquisition of Property; Eminent Domain
Section 571.005. Cession of Use and Control of State Land
Section 571.007. Prerequisites for Issuing Bonds; Election
Section 571.008. Election Results
Section 571.009. General Law Applicable to Bonds
Section 571.010. Handling of Bond Proceeds and Taxes
Section 571.011. Cooperation and Contracts With United States