Sec. 3845.202. TAXES FOR BONDS. (a) At the time the district issues bonds payable wholly or partly from ad valorem taxes, the board shall provide for the annual imposition of an ad valorem tax, without limit as to rate or amount, as required by Section 54.601, Water Code.
(b) The board shall impose the tax annually while all or part of the bonds are outstanding. Sections 54.601 and 54.602, Water Code, govern the amount and rate of the tax.
Added by Acts 2009, 81st Leg., R.S., Ch. 1079 (H.B. 4759), Sec. 1, eff. June 19, 2009.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3845 - Tornillo Management District
Subchapter E. Bonds and Other Obligations
Section 3845.201. Authority to Issue Bonds and Other Obligations
Section 3845.202. Taxes for Bonds
Section 3845.203. Bonds for Road Projects
Section 3845.204. Financial Responsibility of El Paso County Tornillo Water Improvement District