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 Section 51.433, Water Code.
Tex. Spec. Dist. Local Laws Code § 9016.202
TAXES FOR BONDS
Added by Acts 2011, 82nd Leg., R.S., Ch. 1043 (H.B. 3111), Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.