Tex. Gov't Code § 1508.005

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

Section 1508.005 - Obligations Not Debt of Municipality

An obligation issued under this subchapter:

(1) is not a debt of the municipality;

(2) may be a charge only on the facility or land pledged for the payment of the obligation; and

(3) may not be included in determining the power of the municipality to issue bonds for any purpose authorized by law.

Tex. Gov't. Code § 1508.005

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