Tex. Water Code § 57.251
This is the official text of Tex. Water Code § 57.251, part of Texas’s Water Code — governs water rights and water resource management.
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§ 57.251. LEVY OF TAXES ON THE AD VALOREM BASIS.
Official statutory text
(a) If a district levies taxes on the ad valorem basis, it shall levy and have assessed and collected taxes on all taxable property in the district.
(b) The taxes must be sufficient to pay the interest on the bonds as it is due, and to raise a sufficient amount to create a sinking fund to redeem and discharge the bonds at maturity.
(b) The taxes must be sufficient to pay the interest on the bonds as it is due, and to raise a sufficient amount to create a sinking fund to redeem and discharge the bonds at maturity.
Status: in_force · Read it on the official government site
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