{"data":{"id":"us-tx/tex.-special-district-local-laws-code-8147.202","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 8147.202","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 2005, 79th Leg., Ch. 440 (S.B. 1808), Sec. 1, eff. June 17, 2005.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 6. WATER AND WASTEWATER","SUBTITLE F. MUNICIPAL UTILITY DISTRICTS","CHAPTER 8147. GALVESTON COUNTY MUNICIPAL UTILITY DISTRICT NO. 54","SUBCHAPTER E. BONDS AND OTHER OBLIGATIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8147.htm#8147.202","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"22274f991d61f5b97af905f9d290363e764f66a43408f130a963a23a614edc64","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-8147.201","next":"us-tx/tex.-special-district-local-laws-code-8148.001"},"notice":"GroundRules: Original legal text. Not legal advice."}