Sec. 8362.203. 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. 877 (S.B. 2518), Sec. 1, eff. June 19, 2009.
Section: Previous 8362.006 8362.051 8362.052 8362.101 8362.102 8362.103 8362.104 8362.105 8362.106 8362.107 8362.151 8362.152 8362.153 8362.201 8362.202Last modified: September 28, 2016