Sec. 7957.203. 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. 913 (S.B. 2074), Sec. 1, eff. June 18, 2015.
Section: Previous 7957.005 7957.006 7957.051 7957.052 7957.101 7957.102 7957.103 7957.104 7957.105 7957.106 7957.151 7957.152 7957.153 7957.201 7957.202Last modified: September 28, 2016