Sec. 8438.203. 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. 471 (S.B. 1073), Sec. 1, eff. June 14, 2013.
Section: Previous 8438.004 8438.005 8438.006 8438.051 8438.052 8438.101 8438.102 8438.103 8438.104 8438.105 8438.151 8438.152 8438.153 8438.201 8438.202Last modified: September 28, 2016