Sec. 1477.306. BONDS NOT PAYABLE FROM TAXATION; EXCEPTION. (a) The owner or holder of a bond issued under this subchapter is not entitled to demand payment of the principal of or interest on the bond from money raised by taxation.
(b) Subsection (a) does not apply to a demand for payment from hotel occupancy taxes that are pledged under Chapter 352, Tax Code, to the payment of the bond.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle I - Specific Authority for Counties to Issue Securities
Chapter 1477 - Obligations for Other County Purposes
Subchapter G. Revenue Bonds for Improvements to Attract Visitors or Tourists in Certain Counties
Section 1477.301. Applicability of Subchapter
Section 1477.302. Authority for Visitor or Tourist Attractions
Section 1477.303. Authority to Issue Revenue Bonds
Section 1477.304. Pledge of Revenue
Section 1477.305. Lien on Facility
Section 1477.306. Bonds Not Payable From Taxation; Exception
Section 1477.307. Contents of Order Authorizing Bonds
Section 1477.308. Adoption and Execution of Documents
Section 1477.311. Sale of Bonds
Section 1477.312. Use of Bond Proceeds
Section 1477.313. Investment of Funds