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Texas Government Code - GOV'T § 1471.013. Tax Anticipation Notes

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A political subdivision may issue tax anticipation notes authorized by Section 1471.012 for any purpose for which the political subdivision is authorized to impose taxes under Subtitle C, Title 6, Transportation Code.

(b) Tax anticipation notes must be secured by the proceeds of taxes to be imposed in the succeeding 12 months.

(c) The commissioners court may covenant with purchasers of the notes to impose a tax sufficient to pay:

(1) the principal of and interest on the notes;  and

(2) the costs of collecting the taxes.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1471.013. Tax Anticipation Notes - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1471-013/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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