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.
Tex. Spec. Dist. Local Laws Code § 9072.203
BONDS FOR ROAD PROJECTS
Added by Acts 2017, 85th Leg., R.S., Ch. 452 (S.B. 914), 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.