Texas Statutes
Subchapter C. Powers and Duties
Section 505.104. Bond Repayment

Sec. 505.104. BOND REPAYMENT. (a) Bonds or other obligations that mature in 30 years or less and that are issued to pay the costs of projects of a type added to the definition of "project" by Subchapter D may be made payable from any source of funds available to the Type B corporation, including the proceeds of a sales and use tax imposed under this chapter.
(b) Bonds or other obligations that by their terms are payable from the tax proceeds:
(1) may not be paid wholly or partly from any property taxes imposed or to be imposed by the authorizing municipality; and
(2) are not a debt of and do not give rise to a claim for payment against the authorizing municipality, except as to sales and use tax revenue held by the municipality and required under this chapter to be delivered to the Type B corporation.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.

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