Sec. 1504.259. BONDS NOT PAYABLE FROM TAXES; 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 mixed beverage tax receipts that are pledged under Section 1504.256.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle J - Specific Authority for Municipalities to Issue Securities
Chapter 1504 - Obligations for Municipal Buildings
Section 1504.251. Applicability of Subchapter
Section 1504.252. Authority for Cultural and Parking Facilities
Section 1504.253. Authority to Issue Revenue Bonds
Section 1504.254. Pledge of Revenue
Section 1504.255. Lien on Facility
Section 1504.256. Pledge of Mixed Beverage Tax Receipts
Section 1504.257. Shortage of Mixed Beverage Tax Receipts
Section 1504.258. Additional Use of Mixed Beverage Tax Receipts
Section 1504.259. Bonds Not Payable From Taxes; Exception
Section 1504.260. Contents of Ordinance Authorizing Bonds
Section 1504.261. Adoption and Execution of Documents
Section 1504.263. Sale of Bonds
Section 1504.264. Interim Receipts
Section 1504.265. Use of Bond Proceeds
Section 1504.266. Charges for Services
Section 1504.267. Use of Revenue
Section 1504.268. Conflict or Inconsistency With Municipal Charter