Sec. 7922.203. 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. 903 (S.B. 2007), Sec. 1, eff. June 18, 2015.
Section: Previous 7922.004 7922.005 7922.006 7922.051 7922.052 7922.101 7922.102 7922.103 7922.104 7922.105 7922.151 7922.152 7922.153 7922.201 7922.202Last modified: September 28, 2016