Sec. 8457.203. 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. 567 (S.B. 724), Sec. 1, eff. June 14, 2013.
Added by Acts 2013, 83rd Leg., R.S., Ch. 933 (H.B. 1588), Sec. 1, eff. June 14, 2013.
Section: Previous 8457.004 8457.005 8457.006 8457.051 8457.052 8457.101 8457.102 8457.103 8457.104 8457.105 8457.151 8457.152 8457.153 8457.201 8457.202Last modified: September 28, 2016