(a) The board may impose ad valorem taxes in amounts approved at an election held in accordance with § 8511.0602 for:
(1) the maintenance of the authority and its improvements; or
(2) the authority’s administrative expenses.
(b) The maintenance tax and administration tax may not exceed the maximum rate approved at the election, and the rate remains in effect until changed by a subsequent election. The tax rate may not exceed the limit specified by § 8511.0604.