Texas Government Code 1471.054 – Preparation of Assessment
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Terms Used In Texas Government Code 1471.054
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Before issuing bonds or certificates under this subchapter, the road district by order shall:
(1) determine, as appropriate, the amount necessary to pay all or a part of the principal of and interest on:
(A) the refunding bonds on maturity; or
(B) the outstanding bonded indebtedness of the district;
(2) prepare a plan the district determines is equitable for apportioning the amount determined under Subdivision (1) among the record owners of real property in the district based on the ratio that the appraised value of each lot or parcel in the district bears to the total appraised value of real property in the district; and
(3) hold a public hearing on the district’s intention to issue bonds or certificates.