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Texas Government Code - GOV'T § 1505.208. Bonds Not Payable From Taxes

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A bond issued under this subchapter:

(1) is not a debt of the municipality; and

(2) may be a charge only against the property, facilities, and contracts authorized by the bond authorization.

(b) Each bond issued under this subchapter must state on its face the following provision: “The holder of this obligation is not entitled to demand payment of this obligation from any money raised by taxation.”

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1505.208. Bonds Not Payable From Taxes - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1505-208/

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