Texas § WA.51.436 - INTEREST AND SINKING FUND
Full text of Texas The Texas Constitution § WA.51.436 — INTEREST AND SINKING FUND, with citation guidance and answers to common questions.
§ WA.51.436. INTEREST AND SINKING FUND
INTEREST AND SINKING FUND. (a) The district shall have an interest and sinking fund which shall include all taxes collected under this chapter. (b) Money in the interest and sinking fund may be used only: (1) to pay principal and interest on the bonds; (2) to defray the expenses of assessing and collecting the taxes; and (3) to pay principal and interest due under a contract with the United States if bonds have not been deposited with the United States. (c) Money in the fund shall be paid out of the fund on warrants by order of the board as provided in this chapter. (d) The depository shall receive and cancel each interest coupon and bond as it is paid and shall deliver it to the board to be recorded, cancelled, and destroyed. Acts 1971, 62nd Leg., p. 343, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Frequently Asked Questions About Texas § WA.51.436
What does The Texas Constitution § WA.51.436 cover?
Section WA.51.436 ("INTEREST AND SINKING FUND") 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 § WA.51.436?
A common citation format is "The Texas Constitution § WA.51.436" (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 § WA.51.436 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.