(a) At the time the district issues bonds payable from ad valorem taxes, the board shall impose a continuing direct annual 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. 856 (H.B. 3831), Sec. 1, eff. September 1, 2011.
Texas Legal Code