Sec. 9038.203. 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 2009, 81st Leg., R.S., Ch. 584 (S.B. 2464), Sec. 1, eff. June 19, 2009.
Section: Previous 9038.101 9038.102 9038.103 9038.104 9038.105 9038.106 9038.107 9038.108 9038.109 9038.110 9038.151 9038.152 9038.153 9038.201 9038.202Last modified: September 28, 2016