Sec. 392.085. LIABILITY ON BONDS AND OTHER OBLIGATIONS. (a) A commissioner of an authority or a person who executes the bonds for an authority is not liable personally on the bonds due to the issuance of the bonds.
(b) The bonds and other obligations of an authority are not a debt of a municipality, a county, another political subdivision of the state, or the state, and a municipality, a county, another political subdivision, or the state is not liable on the bonds.
(c) Bonds issued by an authority are payable from only the funds and property of the authority issuing the bonds.
(d) Bonds and other obligations of an authority must state on their face that they are not debts of a municipality, a county, another political subdivision, or the state; that a municipality, a county, another political subdivision, or the state is not liable on the bonds; and that the bonds are payable from only the funds and property of the authority issuing the bonds.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government
Chapter 392 - Housing Authorities Established by Municipalities and Counties
Subchapter E. Bonds and Other Obligations
Section 392.081. Authority to Issue Bonds
Section 392.082. Form of Bonds
Section 392.083. Sale of Bonds
Section 392.0831. Payment for Bonds
Section 392.084. Negotiability of Bonds
Section 392.085. Liability on Bonds and Other Obligations
Section 392.086. Tax Exemption
Section 392.087. Pledges, Mortgages, and Covenants to Secure Bonds or Lease Obligations
Section 392.088. Certification of Attorney General
Section 392.089. Purchase of Bonds by Authority
Section 392.090. Covenant of Regional Housing Authority Regarding Area of Operation