Sec. 9039.203. 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. 583 (S.B. 2463), Sec. 1, eff. June 19, 2009.
Section: Previous 9039.101 9039.102 9039.103 9039.104 9039.105 9039.106 9039.107 9039.108 9039.109 9039.110 9039.151 9039.152 9039.153 9039.201 9039.202Last modified: September 28, 2016