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. 9 (H.B. 1331), Sec. 1, eff. May 18, 2017.
Texas Legal Code