Sec. 8340.203. 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. 386 (H.B. 1598), Sec. 1, eff. June 19, 2009.
Section: Previous 8340.003 8340.004 8340.005 8340.051 8340.052 8340.101 8340.102 8340.103 8340.104 8340.105 8340.151 8340.152 8340.153 8340.201 8340.202Last modified: September 28, 2016