Texas Transportation Code 441.215 – Assumption of Debt Share
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Terms Used In Texas Transportation Code 441.215
- Property: means real and personal property. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005
The board may require each petitioner to:
(1) assume the petitioner’s share of any outstanding district bonds or voted but unissued bonds; and
(2) authorize the board to impose a tax on the petitioner’s property in each year that any of those bonds are outstanding.