Special District Local Laws Code § 4005.0505

Sec. 4005.0505. BONDS SECURED BY AD VALOREM TAXES; ELECTIONS. (a) If authorized at an election under Section 4005.0501, the district may issue bonds payable from ad valorem taxes. (b) Section 375.243, Local Government Code, does not apply to the district. (c) 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 annual ad valorem tax, without limit as to rate or amount, for each year that all or part of the bonds are outstanding as required and in the manner provided by Sections 54.601 and 54.602, Water Code. (d) All or any part of any facilities or improvements that may be acquired by a district by the issuance of its bonds may be submitted as a single proposition or as several propositions to be voted on at the election. Added by Acts 2023, 88th Leg., R.S., Ch. 788 (H.B. 5372), Sec. 1, eff. June 13, 2023.