Imposition of Ad Valorem Tax

Sec. 1029.251. IMPOSITION OF AD VALOREM TAX. (a) On final approval of the annual budget, the board shall impose a tax on all 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 issued or assumed by the district for hospital purposes; (2) provide for operation and maintenance of the hospital system; (3) make improvements and additions to the hospital system; and (4) acquire necessary sites by purchase, lease, or condemnation. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.