Sec. 8427.203. 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. 1241 (S.B. 1846), Sec. 1, eff. June 14, 2013.
Section: Previous 8427.004 8427.005 8427.006 8427.051 8427.052 8427.101 8427.102 8427.103 8427.104 8427.105 8427.151 8427.152 8427.153 8427.201 8427.202Last modified: September 28, 2016