Sec. 8487.203. 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. 1250 (S.B. 1910), Sec. 1, eff. September 1, 2013.
Section: Previous 8487.005 8487.006 8487.051 8487.052 8487.101 8487.102 8487.103 8487.104 8487.105 8487.106 8487.151 8487.152 8487.153 8487.201 8487.202Last modified: September 28, 2016