SB 116, 54th R.S.
Relating to fixing the maximum rate of tax to be levied for maintenance purposes in school districts in Texas to an amount not to exceed One Dollar and Fifty Cents ($1.50) on the One Hundred Dollars ($100.00) property valuation; providing for a decreasing maximum maintenance rate; providing for a vote of the people before such tax may be levied; providing for the issuance of bonds for the purchase, construction, repair, or equipment of public free schools not to exceed ten per cent (10%) of the total assessed valuation of the district; and providing that said districts may levy ad valorem taxes in an amount sufficient to pay the interest on and principal of all bonds hereafter issued for such purpose; providing for a vote of the people before such bonds may be issued or such tax rates levied.
Author: A.M. Aikin, Jr.
Session Law Chapter:
Acts 1955, 54th R.S.,ch. 528, General and Special Laws of Texas
Subjects:
Taxation--Property-Tax Rate
Taxation--School District
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