Sec. 7807.206. TAXES FOR BONDS. The board of directors 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 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.02, eff. April 1, 2013.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle E - Levee Improvement Districts
Chapter 7807 - Valwood Improvement Authority of Dallas County, Texas
Section 7807.201. Authority to Issue Bonds
Section 7807.202. Form of Bonds
Section 7807.204. Election Required
Section 7807.205. Use of Bond Proceeds
Section 7807.206. Taxes for Bonds
Section 7807.207. Bond Anticipation Notes and Preliminary Bonds