Sec. 2306.473. STATE NOT OBLIGATED TO PAY; FAITH AND CREDIT NOT PLEDGED. A department bond not authorized by Section 2306.352 must contain a statement on the face of the bond that:
(1) the state is not obligated to pay the principal or interest on the bond; and
(2) the faith, credit, or taxing power of the state is not pledged, given, or loaned to payment of the bond's principal or interest.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Structure Texas Statutes
Subtitle G - Economic Development Programs Involving Both State and Local Governments
Chapter 2306 - Texas Department of Housing and Community Affairs
Subchapter V. Housing Finance Division Bonds: Obligations of Department and State
Section 2306.471. General Obligation Bonds
Section 2306.473. State Not Obligated to Pay; Faith and Credit Not Pledged