Sec. 7950.203. 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. 986 (S.B. 2002), Sec. 3, eff. June 19, 2015.
Section: Previous 7950.004 7950.005 7950.006 7950.051 7950.052 7950.101 7950.102 7950.103 7950.104 7950.105 7950.151 7950.152 7950.153 7950.201 7950.202Last modified: September 28, 2016