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 according to the most recent certified tax appraisal roll for Montgomery County. Added by Acts 2007, 80th Leg., R.S., Ch. 440 (S.B. 1967), Sec. 1, eff. June 15, 2007.
Texas Legal Code