Sec. 7920.203. 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. 667 (H.B. 4133), Sec. 1, eff. June 17, 2015.
Section: Previous 7920.004 7920.005 7920.006 7920.051 7920.052 7920.101 7920.102 7920.103 7920.104 7920.105 7920.151 7920.152 7920.153 7920.201 7920.202Last modified: September 28, 2016