Sec. 7942A.0502. 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 ad valorem tax, without limit as to rate or amount, while 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 2021, 87th Leg., R.S., Ch. 756 (H.B. 4627), Sec. 7(a), eff. October 1, 2021.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle F - Municipal Utility Districts
Chapter 7942A - Mustang Ranch Municipal Utility District No. 1 of Denton County
Subchapter E. Bonds and Other Obligations
Section 7942A.0501. Authority to Issue Bonds and Other Obligations