{"data":{"id":"us-tx/tex.-special-district-local-laws-code-3836.159","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 3836.159","heading":"TAXES FOR BONDS AND OTHER OBLIGATIONS.","body":"At the time bonds or other obligations payable wholly or partly from ad valorem taxes are issued:\n(1) the board shall impose a continuing direct annual ad valorem tax, without limit as to rate or amount, for each year that all or part of the bonds are outstanding; and\n(2) the district annually shall impose an ad valorem tax on all taxable property in the district in an amount sufficient to:\n(A) pay the interest on the bonds or other obligations as the interest becomes due;\n(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; and\n(C) pay the expenses of imposing the taxes.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 821 (S.B. 1969), Sec. 1, eff. June 15, 2007.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 4. DEVELOPMENT AND IMPROVEMENT","SUBTITLE C. DEVELOPMENT, IMPROVEMENT, AND MANAGEMENT","CHAPTER 3836. LAS DAMAS MANAGEMENT DISTRICT","SUBCHAPTER D. FINANCIAL PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3836.htm#3836.159","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"c2da80febfb1e04775b5f887c7558982db6ad646db2b8f13a82cb853fc54ef12","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-3836.158","next":"us-tx/tex.-special-district-local-laws-code-3836.160"},"notice":"GroundRules: Original legal text. Not legal advice."}