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Tex. Gov't Code § 1508.054

BONDS NOT DEBT OF MUNICIPALITY

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

A bond issued under this subchapter:

(1) is not a debt of the municipality;

(2) may be a charge only on the property or income pledged for the payment of the bond; and

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

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