Imposition of Ad Valorem Tax

Sec. 1062.251. IMPOSITION OF AD VALOREM TAX. (a) The board may impose a tax on all property in the district subject to district taxation. (b) The board shall impose the tax to pay: (1) indebtedness issued or assumed by the district; and (2) the maintenance and operating expenses of the district. (c) The board may not impose a tax to pay the principal of or interest on revenue bonds. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.