Sec. 7903.203. BONDS FOR ROAD PROJECTS. At the time of issuance, the total principal amount of bonds or other obligations issued or incurred to finance road projects and payable from ad valorem taxes may not exceed one-fourth of the assessed value of the real property in the district.
Added by Acts 2015, 84th Leg., R.S., Ch. 906 (S.B. 2013), Sec. 1, eff. June 18, 2015.
Section: Previous 7903.004 7903.005 7903.006 7903.051 7903.052 7903.101 7903.102 7903.103 7903.104 7903.105 7903.151 7903.152 7903.153 7903.201 7903.202Last modified: September 28, 2016