1001.352 – TAX TO PAY GENERAL OBLIGATION BONDS. (a) The
Texas Special District Local Laws Code § 1001.352
Summary
This law mandates that the governing body of a special district must levy an ad valorem tax to fund the repayment of general obligation bonds. The tax rate is capped at 75 cents per $100 of taxable property value within the district.
Imposes a tax to fund general obligation bond repayments.
Tax rate cannot exceed 75 cents per $100 valuation.
Applies to all taxable property within the district.
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In simple terms: Learn about Texas's TAX TO PAY GENERAL OBLIGATION BONDS. (a) The law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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