Sec. 7953.203. 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. 492 (S.B. 1005), Sec. 1, eff. June 16, 2015.
Section: Previous 7953.006 7953.007 7953.051 7953.052 7953.101 7953.102 7953.103 7953.104 7953.105 7953.106 7953.107 7953.151 7953.152 7953.201 7953.202Last modified: September 28, 2016