Sec. 3948.206. 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 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., R.S., Ch. 445 (S.B. 320), Sec. 1, eff. June 9, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3948 - River Ranch Improvement District of Liberty County
Section 3948.201. Elections Regarding Taxes and Bonds
Section 3948.202. Operation and Maintenance Tax
Section 3948.203. Contract Taxes
Section 3948.204. Authority to Borrow Money and to Issue Bonds and Other Obligations