Texas Statutes (Last Updated: January 4, 2014) |
GOVERNMENT CODE |
Title 9. PUBLIC SECURITIES |
Subtitle I. SPECIFIC AUTHORITY FOR COUNTIES TO ISSUE SECURITIES |
Chapter 1471. BONDS FOR COUNTY ROADS |
Subchapter D. COMPENSATION BONDS |
Sec. 1471.087. CREATION OF ROAD DISTRICT CONTAINING PORTION OF TERRITORY OF EXISTING DISTRICT
Latest version.
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(a) If a road district is created that contains a portion of the territory of an existing precinct or district that has outstanding road bonds, the newly created district may issue bonds to:
(1) purchase roads in the existing precinct or district; or
(2) further construct macadamized, graveled, or paved roads or turnpikes in the new district.
(b) The bonds shall be issued in the form and manner prescribed for county bonds under Sections 1471.081-1471.086.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.