The board may add, delete, or exclude territory in the manner provided by Subchapter J, Chapter 49, Water Code, as limited by § 54.016, Water Code, except that:
(1) for purposes of this section, a reference in Subchapter J, Chapter 49, Water Code, or § 54.016, Water Code, to a tax means an ad valorem tax;
(2) § 54.016, Water Code, and § 42.042, Local Government Code, do not apply to the district’s annexation of land restricted primarily to commercial or business use;
(3) land may not be added or annexed to the district without the consent of the owners of the land; and
(4) land may not be removed or disannexed from the district at any time during which any bonds or other obligations of the district that are payable, wholly or partly, from ad valorem taxes are outstanding.