Sec. 7911.203. 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. 894 (S.B. 1001), Sec. 1, eff. June 18, 2015.
Section: Previous 7911.004 7911.005 7911.006 7911.051 7911.052 7911.101 7911.102 7911.103 7911.104 7911.105 7911.151 7911.152 7911.153 7911.201 7911.202Last modified: September 28, 2016