Section 286.142 - Taxes to Pay Bonds(a) At the time the bonds are issued by the district, the board shall levy a tax.(b) The tax must be sufficient to create an interest and sinking fund to pay the principal of and interest on the bonds as they mature.(c) In any year, the tax together with any other tax the district levies may not exceed the limit approved by the voters at the election authorizing the levy of taxes.Tex. Health and Safety Code § 286.142
Added by Acts 1991, 72nd Leg., ch. 14, Sec. 121, eff. 9/1/1991.