Sec. 7915.203. 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. 905 (S.B. 2009), Sec. 1, eff. June 18, 2015.
Section: Previous 7915.004 7915.005 7915.006 7915.051 7915.052 7915.101 7915.102 7915.103 7915.104 7915.105 7915.151 7915.152 7915.153 7915.201 7915.202Last modified: September 28, 2016