Sec. 8257.202. BONDS FOR ROAD PROJECTS. (a) The district may not issue bonds or other obligations to finance projects authorized by Section 8257.102 unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election called for that purpose.
(b) Bonds or other obligations issued or incurred to finance projects authorized by Section 8257.102 may not exceed one-fourth of the assessed value of the real property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 1157 (S.B. 2014), Sec. 1, eff. September 1, 2007.
Section: Previous 8257.023 8257.024 8257.025 8257.026 8257.051 8257.052 8257.101 8257.102 8257.103 8257.104 8257.105 8257.106 8257.151 8257.201 8257.202Last modified: September 28, 2016