Sec. 8244.202. BONDS FOR ROAD PROJECTS. (a) The district may not issue bonds to finance projects authorized by Section 8244.102 unless the issuance is approved by a vote of a two-thirds majority of the voters of the district voting at an election called for that purpose.
(b) Bonds or other obligations issued or incurred to finance projects authorized by Section 8244.102 may not exceed one-fourth of the assessed value of the real property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 960 (H.B. 4046), Sec. 1, eff. June 15, 2007.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle F - Municipal Utility Districts
Chapter 8244 - Montgomery County Municipal Utility District No. 104
Subchapter E. Bonds and Other Obligations
Section 8244.201. Authority to Issue Bonds and Other Obligations
Section 8244.202. Bonds for Road Projects