Sec. 3949.205. 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 2017, 85th Leg., R.S., Ch. 624 (H.B. 4283), Sec. 2, eff. June 12, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3949 - Grand Northwest Municipal Management District
Section 3949.201. Elections Regarding Taxes and Bonds
Section 3949.202. Operation and Maintenance Tax
Section 3949.203. Contract Taxes
Section 3949.204. Authority to Borrow Money and to Issue Bonds and Other Obligations