Tex. Transp. Code § 367.060

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

Section 367.060 - Bonds and Warrants Not Payable From Taxes

(a) Bonds and warrants issued under this subchapter are not a debt of the municipality that issues them and are a charge only against:

(1) the pledged revenues of the toll bridge; and

(2) the property comprising the toll bridge, if a lien is given on that property.

(b) A bond or warrant issued under this subchapter must include substantially the following provision: "The holder of this obligation is not entitled to demand payment of this obligation out of any money raised by taxation."

Tex. Transp. Code § 367.060

Added by Acts 1999, 76th Leg., ch. 227, Sec. 25, eff. Sept. 1, 1999.