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.Added by Acts 2011, 82nd Leg., R.S., Ch. 985 (H.B. 1756), Sec. 1, eff. June 17, 2011.