Bonds issued by a board are payable solely from the revenues, income, receipts, or other resources of the board, as provided in this subchapter, and such bonds shall never be an obligation of the State of Texas.
Tex. Educ. Code § 55.18
BONDS NOT OBLIGATIONS OF THE STATE
Applied in 1 court decision — leading case 486 F. Supp. 663 - Hillis v. Stephen F. Austin State University (1980)
Most recently applied in 486 F. Supp. 663 - Hillis v. Stephen F. Austin State University (March 1980)
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.