Sec. 8426.203. 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. 821 (S.B. 1845), Sec. 1, eff. June 14, 2013.
Section: Previous 8426.004 8426.005 8426.006 8426.051 8426.052 8426.101 8426.102 8426.103 8426.104 8426.105 8426.151 8426.152 8426.153 8426.201 8426.202Last modified: September 28, 2016