Sec. 66.321. TAX STATUS OF BONDS. Since a district created under this chapter is a public entity performing an essential public function, bonds issued by the district, any transaction relating to the bonds, and profits made in the sale of the bonds are free from taxation by the state or by any city, county, special district, or other political subdivision of the state.
Added by Acts 1985, 69th Leg., ch. 734, Sec. 1, eff. Sept. 1, 1985.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 66 - Stormwater Control Districts
Subchapter E. General Fiscal Provisions
Section 66.310. Issuance of Bonds
Section 66.311. Manner of Repayment of Bonds
Section 66.314. Provisions of Bonds
Section 66.315. Approval by Attorney General; Registration by Comptroller
Section 66.316. Refunding Bonds
Section 66.317. Bonds as Investments
Section 66.318. Bonds as Security for Deposits
Section 66.319. Mandamus by Bondholders
Section 66.320. Application of Other Laws
Section 66.321. Tax Status of Bonds