Sec. 8366.203. 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. 862 (S.B. 2485), Sec. 1, eff. June 19, 2009.
Section: Previous 8366.005 8366.006 8366.051 8366.052 8366.101 8366.102 8366.103 8366.104 8366.105 8366.106 8366.151 8366.152 8366.153 8366.201 8366.202Last modified: September 28, 2016