Texas Special District Local Laws Code 8346.203 – Bonds for Road Projects
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Terms Used In Texas Special District Local Laws Code 8346.203
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
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.