Texas Transportation Code

§ 314.046 — ASSESSMENTS LEVIED

TN § 314.046Title 6. ROADWAYS · Part E. MUNICIPAL STREETS · Ch. 314. PURCHASE OR CONDEMNATION OF PROPERTY FOR HIGHWAYS BY CERTAIN MUNICIPALITIES · Art. D. ASSESSMENTS

Statute text

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(a)The governing body may make an assessment only by ordinance.

(b)An assessment may:

(1)be made payable in not more than 16 installments maturing within 15 years; and

(2)bear interest at not more than eight percent a year.

Legislative history

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.