Sec. 8459.203. 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. 772 (S.B. 1069), Sec. 1, eff. June 14, 2013.
Section: Previous 8459.004 8459.005 8459.006 8459.051 8459.052 8459.101 8459.102 8459.103 8459.104 8459.105 8459.151 8459.152 8459.153 8459.201 8459.202Last modified: September 28, 2016