Sec. 8109.304. 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 2011, 82nd Leg., R.S., Ch. 1194 (H.B. 3845), Sec. 2, eff. June 17, 2011.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle F - Municipal Utility Districts
Chapter 8109 - Cll Municipal Utility District No. 1
Subchapter G. Bonds and Other Obligations
Section 8109.301. Authority to Issue Bonds and Other Obligations
Section 8109.302. Elections Regarding Taxes and Bonds