{"data":{"id":"us-tx/tex.-special-district-local-laws-code-8216.203","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 8216.203","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. 1130 (H.B. 4070), Sec. 1, eff. June 15, 2007.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 1156 (S.B. 1997), Sec. 1, eff. June 15, 2007.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 6. WATER AND WASTEWATER","SUBTITLE F. MUNICIPAL UTILITY DISTRICTS","CHAPTER 8216. GALVESTON COUNTY MUNICIPAL UTILITY DISTRICT NO. 65","SUBCHAPTER E. BONDS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8216.htm#8216.203","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"09e5f5b7199df58a9df9c7e0b1639af65ef5a44280421872577a270f2e482049","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-8216.202","next":"us-tx/tex.-special-district-local-laws-code-8217.001"},"notice":"GroundRules: Original legal text. Not legal advice."}