Sec. 7955.203. 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. 911 (S.B. 2057), Sec. 1.01, eff. September 1, 2015.
Section: Previous 7955.005 7955.006 7955.051 7955.052 7955.101 7955.102 7955.103 7955.104 7955.105 7955.106 7955.151 7955.152 7955.153 7955.201 7955.202Last modified: September 28, 2016