Sec. 7925.203. 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. 908 (S.B. 2026), Sec. 1, eff. June 18, 2015.
Section: Previous 7925.004 7925.005 7925.006 7925.051 7925.052 7925.101 7925.102 7925.103 7925.104 7925.105 7925.151 7925.152 7925.153 7925.201 7925.202Last modified: September 28, 2016