7-25A-30. Assessment of ad valorem tax--Purpose--Maximum amount--Collection.
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/sd/title-7/chapter-7-25/7-25a-30A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The board may levy and assess an ad valorem tax on all the taxable property in the district to construct, operate, and maintain projects; to pay the principal of, and interest on, any general obligation bonds of the district; and to provide for any sinking or other funds established in connection with any such bonds. An ad valorem tax levied by the board for operating purposes, exclusive of debt service on bonds, may not exceed ten dollars per one thousand dollars per taxable value. The ad valorem tax shall be in addition to county and all other ad valorem taxes. The tax shall be assessed, levied, and collected in the same manner and at the same time as county taxes.