84th Texas Legislature, Regular Session, House Bill 4155, Chapter 1239 Page: 16 of 53
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H.B. No. 4155
1 Sec. 3933.303. CONTRACT TAXES. (a) In accordance with
2 Section 49.108, Water Code, the district may impose a tax other than
3 an operation and maintenance tax and use the revenue derived from
4 the tax to make payments under a contract after the provisions of
5 the contract have been approved by a majority of the district voters
6 voting at an election held for that purpose.
7 (b) A contract approved by the district voters may contain a
8 provision stating that the contract may be modified or amended by
9 the board without further voter approval.
10 Sec. 3933.304. TAXES FOR BONDS AND OTHER OBLIGATIONS. At
11 the time bonds or other obligations payable wholly or partly from ad
12 valorem taxes are issued:
13 (1) the board shall impose a continuing direct annual
14 ad valorem tax, without limit as to rate or amount, for each year
15 that all or part of the bonds are outstanding; and
16 (2) the district annually shall impose an ad valorem
17 tax on all taxable property in the district in an amount sufficient
18 to:
19 (A) pay the interest on the bonds or other
20 obligations as the interest becomes due;
21 (B) create a sinking fund for the payment of the
22 principal of the bonds or other obligations when due or the
23 redemption price at any earlier required redemption date; and
24 (C) pay the expenses of imposing the taxes.
25 Sec. 3933.305. TAX ABATEMENT. The district may enter into a
26 tax abatement agreement in accordance with the general laws of this
27 state authorizing and applicable to a tax abatement agreement by a16
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Texas. Legislature. House of Representatives. 84th Texas Legislature, Regular Session, House Bill 4155, Chapter 1239, legislative document, June 19, 2015; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth705341/m1/16/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.