Section 1100.252 - Tax to Pay General Obligation Bonds(a) At the time general obligation bonds are issued by the district, the board shall impose an ad valorem tax at a rate sufficient to create an interest and sinking fund to pay the principal of and interest on the bonds as the bonds mature.(b) The tax required by this section may not in any year exceed 75 cents on each $100 valuation of all taxable property in the district subject to hospital district taxation.Tex. Spec. Dist. Loc. Laws § 1100.252
Added by Acts 2011, 82nd Leg., R.S., Ch. 70, Sec. 1.01, eff. 4/1/2013.