Tex. Water Code § 54.749
This is the official text of Tex. Water Code § 54.749, part of Texas’s Water Code — governs water rights and water resource management.
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§ 54.749. TAX LIABILITY OF EXCLUDED LAND; BONDS OUTSTANDING.
Official statutory text
(a) Land excluded from the district under Section 54.748 that is pledged as security for any outstanding debt of the district remains pledged for its pro rata share of the debt until final payment is made. The district shall continue to levy and collect taxes on the excluded land at the same rate levied on land remaining in the district until the amount of taxes collected from the excluded land equals the land's pro rata share of the district's debt outstanding at the time the land was excluded from the district.
(b) The district shall apply the taxes collected on the excluded land only to the payment of the excluded land's pro rata share of the debt.
(b) The district shall apply the taxes collected on the excluded land only to the payment of the excluded land's pro rata share of the debt.
Status: in_force · Read it on the official government site
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