Tex. Gov't Code § 1471.011 · Subchapter B. ISSUANCE OF BONDS
AUTHORITY TO ISSUE ROAD BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1471.htm
- Text hash
- sha256 1adddde81c1aad55b82be420a0429d19854d30d08c180e1606f14b2cabfe1c94
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
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