Sec. 8109.303. TAXES FOR BONDS. (a) At the time the district issues bonds payable wholly or partly from ad valorem taxes, the board shall provide for the annual imposition of an ad valorem tax, without limit as to rate or amount, as required by Section 54.601, Water Code.
(b) The board shall annually impose the tax while all or part of the bonds are outstanding. Sections 54.601 and 54.602, Water Code, govern the amount and rate of the tax.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1194 (H.B. 3845), Sec. 2, eff. June 17, 2011.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle F - Municipal Utility Districts
Chapter 8109 - Cll Municipal Utility District No. 1
Subchapter G. Bonds and Other Obligations
Section 8109.301. Authority to Issue Bonds and Other Obligations
Section 8109.302. Elections Regarding Taxes and Bonds