Sec. 1509.206. BONDS NOT PAYABLE FROM TAXES. A bond issued under this subchapter:
(1) is payable only from the revenue, income, receipts, or another resource of the municipality as provided by this subchapter; and
(2) is not a tax obligation of the municipality.
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 1509 - Obligations for Other Municipal Purposes
Section 1509.201. Applicability of Subchapter
Section 1509.202. Authority for Property, Facility, or Activity
Section 1509.203. Authority to Issue Revenue Bonds
Section 1509.204. Pledge of Revenue
Section 1509.205. Additional Security
Section 1509.206. Bonds Not Payable From Taxes
Section 1509.208. Additional Bonds
Section 1509.209. Sale of Bonds
Section 1509.211. Lease or Rental of Property or Facility to United States
Section 1509.212. Refunding Bonds