Texas § SD.11006.256 - BONDS PAYABLE FROM AD VALOREM TAXES
Full text of Texas The Texas Constitution § SD.11006.256 — BONDS PAYABLE FROM AD VALOREM TAXES, with citation guidance and answers to common questions.
§ SD.11006.256. BONDS PAYABLE FROM AD VALOREM TAXES
BONDS PAYABLE FROM AD VALOREM TAXES. (a) If bonds are issued payable wholly or partly from ad valorem taxes, the board shall annually impose a tax on the taxable property in the authority in an amount sufficient to pay the principal of and interest on the bonds when due but not to exceed 20 cents on the $100 valuation of taxable property in the authority. (b) The board may adopt the rate of a tax imposed under Subsection (a) for any year after giving consideration to the money received from the pledged revenue that may be available for payment of principal and interest, to the extent and in the manner permitted by the resolution authorizing the issuance of the bonds. Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162 ), Sec. 1.07, eff. April 1, 2017.
Frequently Asked Questions About Texas § SD.11006.256
What does The Texas Constitution § SD.11006.256 cover?
Section SD.11006.256 ("BONDS PAYABLE FROM AD VALOREM TAXES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § SD.11006.256?
A common citation format is "The Texas Constitution § SD.11006.256" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § SD.11006.256 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.