Texas § 3898.206 TAXES FOR BONDS AND OTHER OBLIGATIONS.

Texas Statutes

§ 3898.206 — TAXES FOR BONDS AND OTHER OBLIGATIONS.

Texas § 3898.206

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 3898.206 (2026).

Text

Sec. 3898.206. TAXES FOR BONDS AND OTHER OBLIGATIONS. At the time bonds or other obligations payable wholly or partly from ad valorem taxes are issued:

(1)the board shall impose a continuing direct annual ad valorem tax for each year that all or part of the bonds are outstanding; and

(2)the district annually shall impose an ad valorem tax on all taxable property in the district in an amount sufficient to:

(A)pay the interest on the bonds or other obligations as the interest becomes due; and

(B)create a sinking fund for the payment of the principal of the bonds or other obligations when due or the redemption price at any earlier required redemption date. SUBCHAPTER F. DISSOLUTION

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Sec. 3898.206. TAXES FOR BONDS AND OTHER OBLIGATIONS. At the time bonds or other obligations payable wholly or partly from ad valorem taxes are issued:
(1) the board shall impose a continuing direct annual ad valorem tax for each year that all or part of the bonds are outstanding; and
(2) the district annually shall impose an ad valorem tax on all taxable property in the district in an amount sufficient to:
(A) pay the interest on the bonds or other obligations as the interest becomes due; and
(B) create a sinking fund for the payment of the principal of the bonds or other obligations when due or the redemption price at any earlier required redemption date.
SUBCHAPTER F. DISSOLUTION