Sec. 8424.203. 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 2015, 84th Leg., R.S., Ch. 132 (H.B. 1068), Sec. 1, eff. May 28, 2015.
Section: Previous 8424.004 8424.005 8424.006 8424.051 8424.052 8424.101 8424.102 8424.103 8424.104 8424.105 8424.151 8424.152 8424.153 8424.201 8424.202Last modified: September 28, 2016