|
House Bill 4723 |
House Author: Taylor |
|
Effective: 6-19-09 |
Senate Sponsor: Hegar |
House Bill 4723 amends the Special District Local Laws Code to authorize the Bayview Municipal Utility District of Galveston County to undertake certain road projects and to impose property taxes and issue bonds and other obligations to finance such projects. Bonds and other obligations for road projects secured wholly or partly by property taxes must be approved by a vote of a two-thirds majority of the voters of the defined area voting in an election called for that purpose, and the total principal amount of bonds or other obligations issued or incurred to finance such projects may not exceed one-fourth of the assessed value of the real property in the district.