Texas Water Code
§ 55.452 — ADOPTING METHOD FOR PAYMENT OF DEBTS
WA § 55.452Title 4. GENERAL LAW DISTRICTS · Ch. 55. WATER IMPROVEMENT DISTRICTS · Art. K. BORROWING MONEY
Statute text
View on source(a)When a district incurs a debt or obligation, it shall provide for payment of the debt or obligation by levying, assessing, and collecting either a general ad valorem tax or a tax on a benefit basis.
(b)Any district which has previously issued bonds or obligations payable on either basis may adopt a different basis of taxation in the creation of an additional debt or obligation.
(c)Each debt or obligation shall be paid in the manner provided at the time it was incurred.
Legislative history
Acts 1971, 62nd Leg., p. 462, ch. 58, Sec. 1, eff. Aug. 30, 1971.