Sec. 7921.203. 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. 501 (S.B. 2056), Sec. 1, eff. June 16, 2015.
Section: Previous 7921.004 7921.005 7921.006 7921.051 7921.052 7921.101 7921.102 7921.103 7921.104 7921.105 7921.151 7921.152 7921.153 7921.201 7921.202Last modified: September 28, 2016