(1) Except as provided in Subsection (2), and subject to Subsection (3) and Section 17B-2a-1009, the property tax levy of a water conservancy district for all purposes may not exceed: (a) .0001 per dollar of taxable value of taxable property in the district, before the earliest of: (i) the planning or design of works; (ii) the acquisition of the site or right-of-way on which the works will be constructed; or (iii) the commencement of construction of the works; and (b) .0002 per dollar of taxable value of taxable property in the district, after the earliest of the events listed in Subsection (1)(a).

(a) .0001 per dollar of taxable value of taxable property in the district, before the earliest of: (i) the planning or design of works; (ii) the acquisition of the site or right-of-way on which the works will be constructed; or (iii) the commencement of construction of the works; and

(i) the planning or design of works;

(ii) the acquisition of the site or right-of-way on which the works will be constructed; or

(iii) the commencement of construction of the works; and

(b) .0002 per dollar of taxable value of taxable property in the district, after the earliest of the events listed in Subsection (1)(a).

(2) Subject to Subsection (3) and Section 17B-2a-1009: (a) in a district that contains land located within the Lower Colorado River Basin, the levy after the earliest of the events listed in Subsection (1)(a) may be increased to a maximum of .001 per dollar of taxable value of taxable property in the district; and (b) in a district to be served under a contract, water appropriation, water allotment, or otherwise by water apportioned by the Colorado River Compact to the Upper Basin, the levy after the earliest of the events listed in Subsection (1)(a) may be increased to a maximum of .0004 per dollar of taxable value of taxable property.

(a) in a district that contains land located within the Lower Colorado River Basin, the levy after the earliest of the events listed in Subsection (1)(a) may be increased to a maximum of .001 per dollar of taxable value of taxable property in the district; and

(b) in a district to be served under a contract, water appropriation, water allotment, or otherwise by water apportioned by the Colorado River Compact to the Upper Basin, the levy after the earliest of the events listed in Subsection (1)(a) may be increased to a maximum of .0004 per dollar of taxable value of taxable property.

(3) A water conservancy district may impose an additional property tax levy, not to exceed .0001 per dollar of taxable value of taxable property in the district, if the additional levy is necessary to provide adequate funds to pay maturing bonds or other debts of the district.