Sec. 8357.203. 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. 581 (S.B. 2460), Sec. 1, eff. June 19, 2009.
Section: Previous 8357.005 8357.006 8357.051 8357.052 8357.101 8357.102 8357.103 8357.104 8357.105 8357.106 8357.151 8357.152 8357.153 8357.201 8357.202Last modified: September 28, 2016