Tex. Water Code § 58.431
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
A district which is operating under Article III, Section 52, of the Texas Constitution, may issue bonds and lend its credit in an amount of not more than one-fourth of the assessed valuation of the real property in the district. However, the total indebtedness of any city or town may never be more than the limits imposed by the Texas Constitution.
Tex. Water Code § 58.431