At the time of issuance, the total principal amount of bonds or other obligations issued or incurred to finance road projects in the defined area may not exceed one-fourth of the assessed value of the real property in the defined area.
Tex. Spec. Dist. Local Laws Code § 9017.065
BONDS FOR ROAD PROJECTS
Added by Acts 2011, 82nd Leg., R.S., Ch. 1261 (S.B. 942), 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.