Imposition of Ad Valorem Tax

Sec. 1115.251. IMPOSITION OF AD VALOREM TAX. (a) The board shall impose a tax on all property in the district subject to district taxation. (b) The board shall impose the tax to pay: (1) indebtedness assumed or issued by the district; and (2) district maintenance and operating expenses. (c) The board may not impose a tax to pay the principal of or interest on revenue bonds issued under Section 1115.206. Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.