Sec. 8331.203. 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. 384 (H.B. 1596), Sec. 1, eff. June 19, 2009.
Section: Previous 8331.003 8331.004 8331.005 8331.051 8331.052 8331.101 8331.102 8331.103 8331.104 8331.105 8331.151 8331.152 8331.153 8331.201 8331.202Last modified: September 28, 2016