Outstanding bonds and additional bonds which are authorized may not be more than one-fourth of the assessed value of the real property in the district, as shown by the last tax roll for the district.
Tex. Water Code § 61.232
LIMITATION ON BOND ISSUE
Acts 1971, 62nd Leg., p. 110, ch. 58, 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.