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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 2017, 85th Leg., ch. 640 (H.B. 4334), § 6(c), eff. June 12, 2017; Acts 2017, 85th Leg., ch. 659 (S.B. 2253), § 3, eff. June 12, 2017.
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 8120.151. Bonds for Road Projects - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-8120-151/
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