Sec. 8311.203. 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 2009, 81st Leg., R.S., Ch. 528 (S.B. 1337), Sec. 1, eff. June 19, 2009.
Section: Previous 8311.051 8311.052 8311.101 8311.102 8311.103 8311.104 8311.105 8311.106 8311.107 8311.108 8311.151 8311.152 8311.153 8311.201 8311.202Last modified: September 28, 2016