Title SD, Special District Local Laws Code

Sec. 1099.254. MATURITY OF GENERAL OBLIGATION BONDS. District general obligation bonds must mature not later than 40 years after the date of issuance. Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.

Sec. 1099.255. EXECUTION OF GENERAL OBLIGATION BONDS. The board president shall execute the general obligation bonds in the district's name and the board secretary shall countersign the bonds in the manner provided by Chapter 618, Government Code. Added by Acts 2011, 82nd Leg., R…

Sec. 1099.256. REVENUE BONDS. (a) The board may issue revenue bonds to: (1) purchase, construct, acquire, repair, renovate, or equip buildings or improvements for hospital purposes; or (2) acquire sites to be used for hospital purposes. (b) The bonds must be payable from and secu…

Sec. 1099.257. REFUNDING BONDS. (a) The board may, without an election, issue refunding bonds to refund outstanding indebtedness issued by the district. (b) A refunding bond may be: (1) sold, with the proceeds of the refunding bond applied to the payment of outstanding indebtedne…

Sec. 1099.258. BONDS EXEMPT FROM TAXATION. The following are exempt from taxation by this state or a political subdivision of this state: (1) any bonds issued by the district; (2) the transfer and issuance of the bonds; and (3) any profits made in the sale of the bonds. Added by …

Sec. 1099.301. IMPOSITION OF TAX. (a) The board shall impose a tax on all taxable property in the district subject to district taxation. (b) The board shall impose the tax to: (1) pay the interest on and create a sinking fund for bonds or other obligations issued by the district …

Sec. 1099.302. TAX RATE. (a) The board may impose the tax at a rate not to exceed 40 cents on each $100 valuation of taxable property in the district. (b) In setting the tax rate, the board shall consider the income of the district from sources other than taxation. Added by Acts …

Sec. 1099.303. ASSESSMENT AND COLLECTION BY COUNTY TAX ASSESSOR-COLLECTOR. Unless the board by majority vote elects to have taxes assessed and collected under Section 1099.304, the tax assessor-collector of the county in which the district is located shall assess and collect taxe…

Sec. 1099.304. ASSESSMENT AND COLLECTION BY DISTRICT TAX ASSESSOR-COLLECTOR. (a) The board, by majority vote, may elect to have district taxes assessed and collected by a tax assessor-collector appointed by the board. An election under this subsection must be made before December…