Sec. 9051.255. BONDS PAYABLE FROM AD VALOREM TAXES; TAX RATE. (a) If bonds are issued payable wholly or partly from ad valorem taxes, the board shall impose a tax sufficient to pay the bonds and the interest on the bonds as the bonds and interest become due.
(b) The board may adopt the rate of a tax imposed under Subsection (a) for any year after giving consideration to the money received from the pledged revenue that may be available for payment of principal and interest to the extent and in the manner permitted by the resolution authorizing the issuance of the bonds.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle I - Water Control and Improvement Districts
Chapter 9051 - Jefferson County Water Control and Improvement District No. 10
Section 9051.252. Issuance of Bonds
Section 9051.253. Form of Bonds
Section 9051.254. Election for Bonds Payable From Ad Valorem Taxes
Section 9051.255. Bonds Payable From Ad Valorem Taxes; Tax Rate
Section 9051.256. Election Not Required for Certain Bonds
Section 9051.257. Bonds Secured by Revenue; Additional Bonds
Section 9051.258. Charges for District Services