Texas Special District Local Laws Code 1117.301 – Imposition of Ad Valorem Tax
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(a) The board shall impose a tax on all taxable 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 or assumed by the district for hospital purposes as provided by this chapter;
(2) provide for the operation and maintenance of the district and hospital system; and
(3) make improvements and additions to the hospitals or hospital system and acquire necessary land and sites for the hospitals or hospital system by purchase, lease, or condemnation.
Terms Used In Texas Special District Local Laws Code 1117.301
- 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