Sec. 8350.203. 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. 244 (S.B. 2455), Sec. 1, eff. May 27, 2009.
Section: Previous 8350.005 8350.006 8350.051 8350.052 8350.101 8350.102 8350.103 8350.104 8350.105 8350.106 8350.151 8350.152 8350.153 8350.201 8350.202Last modified: September 28, 2016