Texas § 1505.059 BONDS NOT PAYABLE FROM TAXES.

Texas Statutes

§ 1505.059 — BONDS NOT PAYABLE FROM TAXES.

Texas § 1505.059

Code GVGovernment Code

This text of Texas § 1505.059 (BONDS NOT PAYABLE FROM TAXES.) 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. § 1505.059 (2026).

Text

Sec. 1505.059. BONDS NOT PAYABLE FROM TAXES.

(a)A bond issued under this subchapter:

(1)is not a debt of the municipality within the meaning of any state constitutional or statutory limitation; and

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

(b)Each bond and coupon issued under this subchapter must state on its face that:

(1)the bond or coupon is issued under this subchapter;

(2)the bond or coupon is not a debt of the municipality within the meaning of any state constitutional or statutory limitation; and

(3)the holder of the bond or coupon is not entitled to demand payment of the bond or coupon from any money raised by taxation.

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Sec. 1505.059. BONDS NOT PAYABLE FROM TAXES. (a) A bond issued under this subchapter:
(1) is not a debt of the municipality within the meaning of any state constitutional or statutory limitation; and
(2) may not be included in determining the power of the municipality to issue bonds for any purpose authorized by law.
(b) Each bond and coupon issued under this subchapter must state on its face that:
(1) the bond or coupon is issued under this subchapter;
(2) the bond or coupon is not a debt of the municipality within the meaning of any state constitutional or statutory limitation; and
(3) the holder of the bond or coupon is not entitled to demand payment of the bond or coupon from any money raised by taxation.