The principal of and interest on bonds issued by a corporation are payable only from the money provided for that payment and from the revenue of the project or projects for which the bonds were authorized.
Tex. Loc. Gov't Code § 501.206
MONEY USED TO PAY BONDS
Known as the Development Corporation Act
The act spans §§ 501.001 to 507.202 (255 sections).
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, 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.