{"data":{"id":"us-tx/tex.-special-district-local-laws-code-8149.202","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 8149.202","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 the continuing direct annual 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. 1170 (H.B. 3502), Sec. 1, eff. June 18, 2005.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 6. WATER AND WASTEWATER","SUBTITLE F. MUNICIPAL UTILITY DISTRICTS","CHAPTER 8149. HARRIS COUNTY MUNICIPAL UTILITY DISTRICT NO. 406","SUBCHAPTER E. BONDS AND OTHER OBLIGATIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8149.htm#8149.202","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"0e0cd05bf3aad4661c3e07a70b6b59bd4126293431eb0e58aef4bc04325ab17c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-8149.201","next":"us-tx/tex.-special-district-local-laws-code-8149.203"},"notice":"GroundRules: Original legal text. Not legal advice."}