Sec. 8349.203. BONDS FOR ROAD PROJECTS

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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.

Added by Acts 2009, 81st Leg., R.S., Ch. 1085 , Sec. 1, eff. June 19, 2009.

                    
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