Sec. 7954.203. 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. 912 (S.B. 2064), Sec. 1, eff. June 18, 2015.
Section: Previous 7954.005 7954.006 7954.051 7954.052 7954.101 7954.102 7954.103 7954.104 7954.105 7954.106 7954.151 7954.152 7954.153 7954.201 7954.202Last modified: September 28, 2016