Sec. 8432.203. 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. 913 (H.B. 1355), Sec. 1, eff. June 14, 2013.
Section: Previous 8432.003 8432.004 8432.005 8432.051 8432.052 8432.101 8432.102 8432.103 8432.104 8432.105 8432.106 8432.151 8432.152 8432.201 8432.202Last modified: September 28, 2016