Sec. 7896.0503. 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 2019, 86th Leg., R.S., Ch. 391 (H.B. 4723), Sec. 1, eff. September 1, 2019.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle F - Municipal Utility Districts
Chapter 7896 - Belmont Municipal Utility District of Johnson County
Subchapter E. Bonds and Other Obligations
Section 7896.0501. Authority to Issue Bonds and Other Obligations