Sec. 327.252. TAXES TO PAY BONDS. (a) When the county issues bonds under this chapter, the county commissioners court shall impose an ad valorem tax on all property subject to county taxation. (b) The tax amount must be sufficient to create an interest and sinking fund to pay the principal of and interest on the bonds as they mature. (c) The proceeds of the tax shall be used to pay the principal of, interest on, and other fees and charges relating to the bonds.
‹ Prev All Texas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.