Texas Transportation Code 314.046 – Assessments Levied
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(a) The governing body may make an assessment only by ordinance.
(b) An assessment may:
(1) be made payable in not more than 16 installments maturing within 15 years; and
(2) bear interest at not more than eight percent a year.
Terms Used In Texas Transportation Code 314.046
- Year: means 12 consecutive months. See Texas Government Code 311.005