Sec. 8435.101. 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. 1335 (S.B. 757), Sec. 1, eff. June 14, 2013.
Section: Previous 8435.001 8435.002 8435.051 8435.052Last modified: September 28, 2016