Sec. 7936.203. 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. 880 (H.B. 4159), Sec. 1, eff. June 18, 2015.
Section: Previous 7936.005 7936.006 7936.051 7936.052 7936.101 7936.102 7936.103 7936.104 7936.105 7936.106 7936.151 7936.152 7936.153 7936.201 7936.202Last modified: September 28, 2016