Sec. 6908.203. 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. 56 (S.B. 914), Sec. 2, eff. May 19, 2009.
Section: Previous 6908.002 6908.003 6908.051 6908.052 6908.101 6908.102 6908.103 6908.104 6908.105 6908.151 6908.152 6908.153 6908.154 6908.201 6908.202Last modified: September 28, 2016