Sec. 1508.054. BONDS NOT DEBT OF MUNICIPALITY. A bond issued under this subchapter:
(1) is not a debt of the municipality;
(2) may be a charge only on the property or income pledged for the payment of the bond; and
(3) may not be included in determining the power of the municipality to issue bonds for any other purpose authorized by law.
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 1508 - Obligations for Municipal Parks, Recreational Facilities, and Airports
Subchapter B. Revenue Bonds for Swimming Pools
Section 1508.051. Authority for Swimming Pools
Section 1508.052. Authority to Issue Revenue Bonds
Section 1508.053. Issuance of Bonds