Sec. 55.452. ADOPTING METHOD FOR PAYMENT OF DEBTS. (a) When a district incurs a debt or obligation, it shall provide for payment of the debt or obligation by levying, assessing, and collecting either a general ad valorem tax or a tax on a benefit basis.
(b) Any district which has previously issued bonds or obligations payable on either basis may adopt a different basis of taxation in the creation of an additional debt or obligation.
(c) Each debt or obligation shall be paid in the manner provided at the time it was incurred.
Acts 1971, 62nd Leg., p. 462, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 55 - Water Improvement Districts
Section 55.452. Adopting Method for Payment of Debts
Section 55.454. Incurring Debt Without Voter Approval
Section 55.455. Taxes on Uniform Basis
Section 55.456. Obtaining Loan When Bonds Cannot Be Sold
Section 55.457. Using Revenue From Sale of Water, Power, and Other Services to Pay Debts