Sec. 3981.0502. OPERATION AND MAINTENANCE TAX. (a) If authorized by a majority of the district voters voting at an election under Section 3981.0501, the district may impose an operation and maintenance tax on taxable property in the district in the manner provided by Section 49.107, Water Code, for any district purpose, including to:
(1) maintain and operate the district;
(2) construct or acquire improvements; or
(3) provide a service.
(b) The board shall determine the operation and maintenance tax rate. The rate may not exceed the rate approved at the election.
Added by Acts 2019, 86th Leg., R.S., Ch. 1266 (H.B. 4693), Sec. 1, eff. June 14, 2019.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3981 - Cole Ranch Improvement District No. 1 of Denton County, Texas
Section 3981.0501. Tax Election Required
Section 3981.0502. Operation and Maintenance Tax
Section 3981.0503. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3981.0504. Bonds Secured by Revenue or Contract Payments
Section 3981.0505. Bonds Secured by Ad Valorem Taxes; Elections
Section 3981.0506. City Not Required to Pay District Obligations