At the time of issuance, the total principal amount of bonds or other obligations issued or incurred to finance road projects in the defined area may not exceed one-fourth of the assessed value of the real property in the defined area. Added by Acts 2011, 82nd Leg., R.S., Ch. 1261 (S.B. 942), Sec. 1, eff. September 1, 2011.
Texas Legal Code