Sec. 8425.203. 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 2013, 83rd Leg., R.S., Ch. 307 (H.B. 1492), Sec. 1, eff. June 14, 2013.
Section: Previous 8425.005 8425.006 8425.051 8425.052 8425.101 8425.102 8425.103 8425.104 8425.105 8425.151 8425.152 8425.153 8425.154 8425.201 8425.202Last modified: September 28, 2016