Tex. Loc. Gov't Code § 321.077

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 321.077 - Bonds Not State or County Debt

(a) The bonds are not a debt of the county or this state within the meaning of any constitutional or statutory provision, but are payable solely from the revenues pledged to their payment as provided by this subchapter.

(b) Each bond must contain on its face substantially the following provision: "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."

(c) The bonds may not be considered in determining the power of the county to incur obligations payable from taxation.

Tex. Loc. Gov't. Code § 321.077

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. 9/1/1987.