Sec. 1471.054. PREPARATION OF ASSESSMENT. Before issuing bonds or certificates under this subchapter, the road district by order shall:
(1) determine, as appropriate, the amount necessary to pay all or a part of the principal of and interest on:
(A) the refunding bonds on maturity; or
(B) the outstanding bonded indebtedness of the district;
(2) prepare a plan the district determines is equitable for apportioning the amount determined under Subdivision (1) among the record owners of real property in the district based on the ratio that the appraised value of each lot or parcel in the district bears to the total appraised value of real property in the district; and
(3) hold a public hearing on the district's intention to issue bonds or certificates.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
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