Sec. 3934.205. TAXES FOR BONDS. At the time the district issues bonds payable wholly or partly from ad valorem taxes, the board shall provide for the annual imposition of a continuing direct annual ad valorem tax, without limit as to rate or amount, for each year that all or part of the bonds are outstanding as required and in the manner provided by Sections 54.601 and 54.602, Water Code.
Added by Acts 2015, 84th Leg., R.S., Ch. 888 (H.B. 4192), Sec. 1, eff. June 18, 2015.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3934 - Simonton Management District No. 1
Section 3934.201. Elections Regarding Taxes and Bonds
Section 3934.202. Operation and Maintenance Tax
Section 3934.203. Contract Taxes
Section 3934.204. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3934.205. Taxes for Bonds
Section 3934.206. City Not Required to Pay District Obligations