Sec. 1471.056.  IMPOSITION OF ASSESSMENT.  (a)  If, at the conclusion of the hearing, the road district by order determines that the property in the district will benefit from refinancing under this subchapter, the district may:
(1)  issue refunding bonds or certificates of assessment to pay all or part of the district's bonded indebtedness;  and
(2)  impose the assessments as special assessments on the property in the district.
(b)  For assessments imposed under Subsection (a), the district:
(1)  shall specify the method of payment and rate of interest of the assessments;  and
(2)  may provide for payment in periodic installments in amounts necessary to pay the principal of and interest on the refunding bonds or certificates of assessment as accrued.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.