Section 49.259 - Taxes of Component Districts(a) The governing board of a component school district of a consolidated taxing district that has consolidated for maintenance and operation purposes only may issue bonds and levy, pledge, and collect ad valorem taxes within that component district sufficient to pay the principal of and interest on those bonds as provided by Chapter 45.(b) A component district levying an ad valorem tax under this section or Section 49.260(b)(1) is entitled to the guaranteed yield provided by Subchapter E, Chapter 48, for that portion of its tax rate that, when added to the maintenance tax levied by the consolidated taxing unit, does not exceed the limitation provided by Section 48.203.Tex. Educ. Code art. 49.259
Renumbered from Tex. Educ. Code § 41.159 by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 943,Sec. 1.058, eff. 9/1/2019.Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. 5/30/1995.