Sec. 6907.203. 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 2009, 81st Leg., R.S., Ch. 51 (S.B. 799), Sec. 2, eff. May 19, 2009.
Section: Previous 6907.002 6907.003 6907.051 6907.052 6907.101 6907.102 6907.103 6907.104 6907.105 6907.151 6907.152 6907.153 6907.154 6907.201 6907.202Last modified: September 28, 2016