Bonds issued by a spaceport development corporation are not an obligation or a pledge of the faith and credit of this state, a political subdivision that authorized the creation of the corporation, or another political subdivision or agency of this state.
Tex. Loc. Gov't Code § 507.152
BONDS NOT OBLIGATION OF CERTAIN ENTITIES
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.