Section 92. Real estate tax for debt service  


Latest version.
  • If a city issues its
      obligations for any project or to raise  funds  to  loan  in  aid  of  a
      project,  such  city  may  levy  an ad valorem tax on real estate to the
      extent that revenues derived in any year from taxes levied  pursuant  to
      this  chapter, together with revenues from the project or projects aided
      by the proceeds of any such obligations  shall  become  insufficient  to
      provide  fully  for  the  payment of principal and interest in that year
      upon obligations issued for either or both purposes.