Texas Statutes
§ 1253.002 — LIMITATION ON AUTHORITY TO ISSUE GENERAL OBLIGATION BONDS.
Texas § 1253.002
JurisdictionTexas
Code GVGovernment Code
This text of Texas § 1253.002 (LIMITATION ON AUTHORITY TO ISSUE GENERAL OBLIGATION BONDS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Tex. Government Code Code Ann. § 1253.002 (2026).
Text
Sec. 1253.002. LIMITATION ON AUTHORITY TO ISSUE GENERAL OBLIGATION BONDS.
(a)In this section, "personal property" has the meaning assigned by Section 1.04 , Tax Code.
(b)Notwithstanding any other provision of law, a political subdivision may not issue general obligation bonds to purchase, improve, or construct one or more improvements to real property, to purchase one or more items of personal property, or to do both, if the weighted average maturity of the issue of bonds exceeds 120 percent of the reasonably expected weighted average economic life of the improvements and personal property financed with the issue of bonds.
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Legislative History
Added by Acts 2019, 86th Leg., R.S., Ch. 726 (H.B. 440 ), Sec. 3, eff. September 1, 2019.
Nearby Sections
3
§ 1253.001
DEFINITION.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 1253.002, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/GV/1253.002.