Sec. 7803.206. TAXES FOR BONDS. The board may impose continuing direct annual ad valorem taxes on all taxable property in the district sufficient to:
(1) provide for the payment of interest on bonds issued under this subchapter as the interest accrues; and
(2) create and provide a sinking fund for the payment of principal of the bonds as the principal matures.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.02, eff. April 1, 2015.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle E - Levee Improvement Districts
Chapter 7803 - Irving Flood Control District Section I
Section 7803.201. Authority to Issue Bonds
Section 7803.202. Form of Bonds
Section 7803.204. Election Required
Section 7803.205. Use of Bond Proceeds During Construction
Section 7803.206. Taxes for Bonds