This is a clone of the Texas Administrative Code (TAC) for educational purposes. It is not the official version and should not be used for legal purposes. Site created Wed, 21 May 2025 21:16:34 GMT
The maximum annual debt service reflected in the debt retirement schedule may not exceed:(1) for proposed public securities supported in whole or in part by ad valorem taxes, the product of the bond allowable rate, the applicable collection rate, and the issuer's most recent certified taxable assessed valuation; and/or(2) for proposed public securities supported by revenues, the issuer's certified historical or projected revenue collection amount, as applicable.