Sec. 284.036. BONDS SECURED SOLELY BY REVENUE. Bonds secured solely by a pledge of project revenue:
(1) are not a debt of the county issuing the bonds but are solely a charge on project revenue;
(2) may not be considered in determining the power of the county to issue for any purpose bonds payable in whole or in part from taxes; and
(3) must state: "The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation."
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle D - Road Laws Relating to Particular Counties
Chapter 284 - Causeways, Bridges, Tunnels, Turnpikes, Ferries, and Highways in Certain Counties
Section 284.031. Bonds Authorized
Section 284.032. Tax Bond Election
Section 284.033. Interim Bonds
Section 284.034. Bond Sale to Pay Outstanding Bonds
Section 284.035. Bond Approval and Registration
Section 284.036. Bonds Secured Solely by Revenue
Section 284.037. Revenue Bond Election Not Required
Section 284.038. Revenue Bonds: Ad Valorem Tax for Maintenance and Operation
Section 284.039. Bonds Are Securities
Section 284.040. Effect of Lien
Section 284.041. Refunding Bonds
Section 284.042. Use of Bond Proceeds; Lien
Section 284.043. Costs and Expenses