Tex. Transp. Code § 284.036

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

Section 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."

Tex. Transp. Code § 284.036

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.