Art. 7861. BONDS:  LIMIT OF ISSUE.  Said bonds shall not exceed in amount one-fourth of the assessed valuation of the real property of such district.
Acts 1918, 35th Leg., 4th C.S., p. 74, ch. 43;  Acts 1979, 66th Leg., p. 2317, ch. 841, Sec. 4(i), eff. Jan. 1, 1982.