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Tex. Gov't Code § 1473.053

OBLIGATIONS NOT PAYABLE FROM TAXES

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff

(a) A security issued under this subchapter:

(1) is not a debt of the county;

(2) may be a charge only on the revenue that is pledged, assigned, or encumbered; and

(3) may not be included in determining the power of the county to issue bonds for any purpose authorized by law.

(b) Each security issued under this subchapter must include the following provision: "The holder of this obligation is not entitled to demand payment of this obligation out of any money raised by taxation."

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.