Sec. 1507.152. PLEDGE OF TAX. The governing body may pledge to the payment of the bonds issued under this subchapter an ad valorem tax sufficient to pay when due the principal of and interest on the bonds.
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 1507 - Obligations Relating to Municipal Debt and Expenses
Subchapter D. Tax Bonds for Payment of Current Expenses
Section 1507.151. Authority to Issue Bonds
Section 1507.152. Pledge of Tax
Section 1507.156. Sale of Bonds
Section 1507.157. No Waiver of Claims
Section 1507.158. Redemption of Bonds