The bonds are special obligations payable solely from revenues pledged to their payment and are not general obligations of the governing body, the issuer, or the state. A bondholder may not demand payment from money obtained from a tax or other revenue of the issuer, excluding revenues pledged to the payment of the bonds.
Tex. Health & Safety Code § 383.034
BONDS NOT GENERAL OBLIGATION
Known as the Clean Air Financing Act
The act spans §§ 383–383 (25 sections).
Acts 1989, 71st Leg., ch. 678, 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.