Texas Special District Local Laws Code 1031.251 – Imposition of Ad Valorem Tax
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(a) On final approval of the annual budget, the board shall impose a tax on all property in the district subject to district taxation.
(b) The tax may be used to:
(1) pay the interest on and create a sinking fund for warrants issued by the district for health care purposes;
(2) pay for the maintenance and operation expenses of the district and health care system;
(3) pay for indebtedness issued or assumed by the district;
(4) make improvements and additions to the health care system; and
(5) acquire necessary sites for the health care system by purchase, lease, or condemnation.
Terms Used In Texas Special District Local Laws Code 1031.251
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: means real and personal property. See Texas Government Code 311.005
(c) The district may not impose a tax to pay the principal of or interest on revenue bonds issued under this chapter.