Sec. 8462.203. 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. 601 (S.B. 1066), Sec. 1, eff. June 14, 2013.
Section: Previous 8462.004 8462.005 8462.006 8462.051 8462.052 8462.101 8462.102 8462.103 8462.104 8462.105 8462.151 8462.152 8462.153 8462.201 8462.202Last modified: September 28, 2016