The total principal amount of bonds that the district may have outstanding at any time may not exceed 10 percent of the assessed value of all taxable property in the district according to the most recent certified appraisal roll of the district.
Tex. Spec. Dist. Local Laws Code § 6601.151
LIMITATION ON DEBT
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.