Sec. 61.232. LIMITATION ON BOND ISSUE. Outstanding bonds and additional bonds which are authorized may not be more than one-fourth of the assessed value of the real property in the district, as shown by the last tax roll for the district.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971. Amended by Acts 1979, 66th Leg., p. 2321, ch. 841, Sec. 4(r), eff. Jan. 1, 1982.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 61 - Article Iii, Section 52, Navigation Districts
Subchapter G. Bond and Tax Provisions
Section 61.231. Issuance of Bonds
Section 61.232. Limitation on Bond Issue
Section 61.233. Requisites of Bonds
Section 61.235. Chairman's Bond
Section 61.237. Assessment and Collection of Taxes