Texas § 8221.203 BONDS FOR ROAD PROJECTS.

Texas Statutes

§ 8221.203 — BONDS FOR ROAD PROJECTS.

Texas § 8221.203

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 8221.203 (2026).

Text

Sec. 8221.203. BONDS FOR ROAD PROJECTS.

(a)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.

(b)The district may not issue bonds payable from ad valorem taxes to finance a road project unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election held for that purpose.

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Sec. 8221.203. BONDS FOR ROAD PROJECTS. (a) 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.
(b) The district may not issue bonds payable from ad valorem taxes to finance a road project unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election held for that purpose.