Texas Government Code 1331.051 – Limitation On Bonded Debt: Municipality With Population of 950,000 or More
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(a) This section applies only to a municipality with a population of 950,000 or more.
(b) The municipality, through the issuance of bonds payable from taxes, may incur total bonded debt in an amount not to exceed 10 percent of the total appraised value of property listed on the most recent appraisal roll for the municipality notwithstanding that the municipal charter limits the total dollar amount of bonded debt to a lesser amount.
Terms Used In Texas Government Code 1331.051
- Appraisal: A determination of property value.
- Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005