HomeMy WebLinkAbout2024-0918B Order Levying Debt Service and Maintenance Taxes for the 2024 Tax YearORDER NO. 2024-0918B
ORDER OF TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1
LEVYING DEBT SERVICE AND MAINTENANCE TAXES
FOR THE 2024 TAX YEAR
WHEREAS, Trophy Club Municipal Utility District No. 1 (the "District") is a
duly created and existing municipal utility district created and operating under Chapters 49
and 54 of the Texas Water Code, as amended.
WHEREAS, Section 54.601 of the Texas Water Code provides that at the time
bonds payable in whole or in part from taxes are issued, the board of a water district shall
levy a continuing direct annual ad valorem tax for each year while all or part of the bonds
are outstanding on all taxable property within the district in sufficient amounts to pay the
interest on the bonds as it becomes due and to create a sinking fund for the payment of the
principal of the bonds when due;
WHEREAS, Section 49.107 of the Texas Water Code provides that a district may
levy and collect a tax for maintenance and operation purposes.
WHEREAS, at an election properly conducted in accordance with all applicable
laws, the eligible residents of the District previously authorized the issuance of District tax
bonds, and the levy and collection of District debt service and maintenance taxes.
WHEREAS, the District has issued its unlimited tax bonds pursuant to the
foregoing authorization.
WHEREAS, the Board of Directors of the District approved a proposed ad valorem
tax rate for the 2024 tax year at a meeting conducted on September 18, 2024.
WHEREAS, in accordance with the requirements set forth at Section 49.236 of the
Texas Water Code and other applicable laws, the District has given proper notice and
conducted a public hearing regarding the adoption of ad valorem tax rates for the 2024 tax
year.
WHEREAS, after conducting the public hearing, the Board of Directors of the
District desires to proceed with the levy and collection of a debt service tax and a
maintenance tax for the 2024 tax year; and
WHEREAS, the District has complied with the applicable requirements of the
Texas Water Code and other statutes relating to the procedures for establishing ad valorem
taxes by municipal utility districts. Now, therefore,
BE IT ORDERED BY THE BOARD OF DIRECTORS OF TROPHY CLUB
MUNICIPAL UTILITY DISTRICT NO. 1 THAT:
Order No. 2024-0918B Levying Debt and Maintenance Tax 1 of 2
Section 1. The facts and recitations found in the preamble of this Order are
hereby found and declared to be true and correct and are incorporated by reference herein
and expressly made a part hereof, as if copied verbatim.
Section 2. There is hereby levied for the 2024 tax year the following ad
valorem taxes:
(i)
An ad valorem debt service tax rate of $0.00799 on each $100 of taxable
value on all taxable property within the District; and
(ii) An ad valorem maintenance tax rate of $0.05451 on each $100 of taxable
value on all taxable property within the District.
Section 3. The Board of Directors hereby finds and declares that the tax rates
adopted and levied by this Order do not exceed the maximum tax rates authorized by the
voters of the District.
Section 4. All taxes collected pursuant to this Order, after paying reasonable
costs of levying, assessing, and collecting same, shall be used for authorized purposes, as
may be specified by the Board of Directors in accordance with applicable laws.
ADOPTED, PASSED AND APPROVED this 18th day of September 2024.
ATEST
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Doug Harper
Secretary, Board of Directors
Kevin R. Carr
President, Board of Directors
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Order No. 2024-0918B Levying Debt and Maintenance Tax 2 of 2