§ 41-10-115 — Annual determination by board of amount of money necessary to be raised by taxation; fixing annual tax levy; certification of rate fixed and determined to county commissioners and clerks

To levy and collect taxes, the board shall determine, in each
year, the amount of money necessary to be raised by taxation,
taking into consideration other sources of revenue of the
district, and shall fix a rate of levy, which, when levied upon
every dollar of assessed valuation of taxable property within
the district, and together with other revenues, will raise the
amount required by the district annually to supply funds for
paying expenses of organization and the costs of acquiring,
operating and maintaining the works and equipment of the
district, and promptly to pay in full, when due, all interest on
and principal of general obligation bonds and other such
obligations of the district, and in the event of accruing
defaults or deficiencies, an additional levy may be made as
provided in section 16. The secretary of the district pursuant
to resolution of the board shall on or before the fourth Monday
in May of each year, certify to the board of county
commissioners of each county within the district, or having a
portion of its territory within the district, and file with the
county clerk thereof, the rate so fixed with directions that at
the time and in the manner required by law for levying taxes for
county purposes, such board of county commissioners shall levy
such tax upon the assessed valuation of all taxable property
within the district, in addition to such other taxes as may be
levied by such board of county commissioners at the rate so
fixed and determined.