At the time of issuance, the total principal amount of a bond, note, or other obligation issued or incurred to finance a road project may not exceed one-fourth of the assessed value of real property in the district. Added by Acts 2007, 80th Leg., R.S., Ch. 580 (S.B. 1961), Sec. 1, eff. June 16, 2007.
Texas Legal Code