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<br /> District from the levy of an additional tax in the collection <br /> year, derived by converting all other revenues allocable to <br /> retirement of the District's debt received in the base year to an <br /> equivalent tax rate as of the base year. <br /> The surcharge is required to continue for thirty (30) <br /> years after the initial District debt is issued, until the bonded <br /> indebtedness of the District has been retired, or until the City <br /> has been wholly compensated for the assumption of obligations <br /> under the Texas Water Code, whichever occurs last, but in no case <br /> for a longer period of time than is necessary to wholly <br /> compensate the City for its assumption of the obligations of the <br /> District. Each purchaser of land within the District shall be <br /> furnished by Developer or its successors or assigns, pr ior to t.he <br /> final closing of the sale and purchase, a separate written notice <br /> executed and acknowledged by the seller which shall contain the <br /> information required by Section 54.016(h)(4)(A) of the Texas <br /> Water Code. The District shall comply with Section <br /> 54.016(h)(4)(B) of the Texas Water Code. <br /> E. It is expressly understood and agreed that the City <br /> may annex the District's lands, without dissolving the District, <br /> upon the following terms and conditions, pursuant to <br /> subsection (h) of Section 54.016 Texas Water Code: <br /> ( 1) The City may not annex the District's lands <br /> pursuant to this Paragraph E prior to five ( 5) years from the <br /> date of the election confirming the creation of the District. <br /> ( 2) Upon annexation of the District's lands <br /> pursuant to this Paragraph E, the provisions of this Agreement <br /> shall remain in full force and effect until the District is <br /> dissolved in accordance with the provisions of subsection (5). <br /> ( 3) The total ad valorem taxes collected by the <br /> City and the District on taxable property within the District <br /> during any year between annexation of the District and <br /> dissolution of the District shall not exceed an amount greater <br /> than the City's ad valorem tax upon such property. As between <br /> -18- <br />