Texas Special District Local Laws Code - SDLL § 1118.202. Tax to Pay General Obligation Bonds
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The board may issue general obligation bonds only if the board imposes an ad valorem tax at a rate sufficient to create an interest and sinking fund to pay the principal of and interest on the bonds as the bonds mature. (Acts 59th Leg., R.S., Ch. 172, Sec. 10(b).)
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 1118.202. Tax to Pay General Obligation Bonds - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-1118-202.html
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