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. Added by Acts 2017, 85th Leg., R.S., Ch. 445 (S.B. 320), Sec. 1, eff. June 9, 2017.
Texas Legal Code