Tex. Gov't Code § 1504.005

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

Section 1504.005 - Bonds Not Payable From Taxes; Exception

(a) The owner or holder of a bond issued under this subchapter is not entitled to demand payment of the principal of or interest on the bond from money raised by taxation.

(b) Subsection (a) does not apply to a demand for payment from hotel occupancy taxes that are pledged under Chapter 351, Tax Code, to the payment of the bond.

Tex. Gov't. Code § 1504.005

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.