Texas Transportation Code 365.037 – County Ad Valorem Tax
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(a) A county may impose an ad valorem tax under Section 9, Article VIII, or Section 52, Article III, of the Texas Constitution, and contract to pay and pledge taxes in support of its obligation to a district and the district’s bondholders.
(b) The tax proceeds shall be used annually to the extent required and for the payments provided by the county’s contract with the district.
Terms Used In Texas Transportation Code 365.037
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.