Sec. 7907.203. 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. 907 (S.B. 2025), Sec. 1, eff. September 1, 2015.
Section: Previous 7907.004 7907.005 7907.006 7907.051 7907.052 7907.101 7907.102 7907.103 7907.104 7907.105 7907.151 7907.152 7907.153 7907.201 7907.202Last modified: September 28, 2016