DALLAS -- The Texas attorney general's office has told Houston officials they cannot legally sell any of a voter-approved $500 million general obligation bond issue because of the way the ballot referendum was worded.

City officials met yesterday to discuss their options after learning Friday that the bonds were not valid because the November 1992 referendum required Houston voters to approve "all or none" of the proposed capital projects. The attorney general's office said that stipulation violates state constitutional principles.

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