Water Code §54.601

In force on Apr 19, 2011 · this text took effect (date not stated) · same as today's text

TAX LEVY FOR BONDS

At the time bonds payable in whole or in part from taxes are issued, the board shall levy a continuing direct annual ad valorem tax for each year while all or part of the bonds are outstanding on all taxable property within the district in sufficient amount to pay the interest on the bonds as it becomes due and to create a sinking fund for the payment of the principal of the bonds when due or the redemption price at any earlier required redemption date and to pay the expenses of assessing and collecting the taxes.

History: Added by Acts 1971, 62nd Leg., p. 801, ch. 84, Sec. 1.

Source: the Legislature's file server, seen Sep 22, 2018 to Nov 08, 2026.

Every version on file

Effective date not stated · seen Sep 2018–Nov 2026

Attorney General opinions that cite it

GA-0883 (Apr 19, 2011): Treatment of existing debt after consolidation of municipal utility districts pursuant to section 54.728 of the Water Code

A research copy. The official text is the Legislature's (statutes), the Secretary of State's (Texas Administrative Code) or eCFR's (federal rules). Not legal advice.