DecisionDepot
California legal research

Texas Special District Local Laws Code

§ 1061.253 — USE OF AD VALOREM TAXES FOR OPERATION AND MAINTENANCE EXPENSES

SD § 1061.253Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1061. MIDLAND COUNTY HOSPITAL DISTRICT OF · Art. F. AD VALOREM TAXES

Statute text

View on source
(a)If the board issues revenue bonds under Section 1061.204, the board:
(1)shall use ad valorem taxes to pay the district's operation and maintenance expenses to the extent that the revenue and income from the district's hospital facilities are not sufficient after providing for the payment of those bonds; and
(2)may pledge the proceeds of the ad valorem tax for the payment of the district's operation and maintenance expenses in the order authorizing the issuance of the bonds.
(b)If the ad valorem tax is pledged, the board shall, during each year during which the revenue bonds are outstanding, compute a tax rate sufficient to pay the operation and maintenance expenses described by Subsection (a)(1).
(c)The ad valorem tax shall be imposed on all taxable property in the district for each year the revenue bonds are outstanding. The tax shall be assessed and collected each year and used for the purpose prescribed by this section to the extent required.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.

Source: Texas Special District Local Laws Code § 1061.253 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.