Sec. 3886.205. BONDS FOR ROAD PROJECTS. At the time of issuance, the total principal amount of bonds or other obligations issued or incurred to finance road projects 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. 1077 (H.B. 4752), Sec. 1, eff. September 1, 2009.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3886 - Prosper Management District No. 1
Subchapter E. Bonds and Other Obligations
Section 3886.201. Authority to Issue Bonds and Other Obligations
Section 3886.202. Taxes for Bonds
Section 3886.203. Bond Issuance Plan Required Before Issuing Bonds