Sec. 8380.203. 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 2011, 82nd Leg., R.S., Ch. 866 (H.B. 3864), Sec. 1, eff. June 17, 2011.
Section: Previous 8380.103 8380.104 8380.105 8380.106 8380.107 8380.108 8380.109 8380.151 8380.152 8380.153 8380.154 8380.155 8380.156 8380.201 8380.202Last modified: September 28, 2016