Sec. 8496.203. 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 2015, 84th Leg., R.S., Ch. 866 (H.B. 2091), Sec. 1.03, eff. September 1, 2015.
Section: Previous 8496.006 8496.007 8496.051 8496.052 8496.101 8496.102 8496.103 8496.104 8496.105 8496.106 8496.151 8496.152 8496.153 8496.201 8496.202Last modified: September 28, 2016