Tex. Government Code § 1471.011
AUTHORITY TO ISSUE ROAD BONDS
Texas · Texas Government Code · Status: effective
Cite this
- Citation
- Tex. Government Code § 1471.011, AUTHORITY TO ISSUE ROAD BONDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/660650
- Permanent ID
ys:prov:660650@1- SHA-256
6ef5ffaa10d97eb1755777ab0af59ff798cb6ba45e7581f1278ca7fdcf46b570
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) In this section, "bonds" includes tax anticipation notes, bond anticipation notes, and other obligations.
(b) A political subdivision may issue bonds in the manner provided by this chapter and Section 52, Article III, Texas Constitution, to:
(1) construct, purchase, maintain, or operate a macadamized, graveled, or paved road or turnpike; or
(2) aid a purpose described by Subdivision (1).
(c) An issuer of bonds under Subsection (b) may impose ad valorem taxes to pay the interest on the bonds and provide a sinking fund for the redemption of the bonds.
(d) The total amount of bonds issued under this chapter may not exceed one-fourth of the assessed value of real property of the political subdivision issuing the bonds.
(e) In determining the limitation imposed by Subsection (d), the assessed value of property of the political subdivision is the market value of the property as recorded by the chief appraiser of the appraisal district that appraises property for the political subdivision.