Texas Special District Local Laws Code 1102.251 – Imposition of Ad Valorem Tax
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(a) On final approval of the budget, the board shall impose a tax on all property in the district subject to district taxation.
(b) The board shall impose the tax to:
(1) pay the interest on and create a sinking fund for bonds issued by the district for hospital purposes as provided by this chapter;
(2) provide for the maintenance and operation of the district and hospital system;
(3) make improvements and additions to the hospital system; and
(4) acquire necessary sites for the hospital system by purchase, lease, or condemnation.
Terms Used In Texas Special District Local Laws Code 1102.251
- 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