Imposition of Ad Valorem Tax

Sec. 1063.251. IMPOSITION OF AD VALOREM TAX. (a) The board shall impose an ad valorem tax on all taxable 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 issued under this chapter. Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.