Sec. 7904.203. 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. 904 (S.B. 2008), Sec. 1, eff. June 18, 2015.
Section: Previous 7904.004 7904.005 7904.006 7904.051 7904.052 7904.101 7904.102 7904.103 7904.104 7904.105 7904.151 7904.152 7904.153 7904.201 7904.202Last modified: September 28, 2016