Manner of Repayment of Bonds

Sec. 351.150. MANNER OF REPAYMENT OF BONDS. The board may provide for the payment of the principal of and interest on the bonds: (1) from the levy and collection of ad valorem taxes on all taxable property within the district; (2) by pledging all or any part of the designated revenues of the district; or (3) from a combination of the sources listed in Subdivisions (1) and (2). Added by Acts 1989, 71st Leg., ch. 1, Sec. 74(a), eff. Aug. 28, 1989.