Texas § 1505.156 OBLIGATIONS NOT PAYABLE FROM TAXES.

Texas Statutes

§ 1505.156 — OBLIGATIONS NOT PAYABLE FROM TAXES.

Texas § 1505.156

Code GVGovernment Code

This text of Texas § 1505.156 (OBLIGATIONS 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. § 1505.156 (2026).

Text

Sec. 1505.156. OBLIGATIONS NOT PAYABLE FROM TAXES.

(a)An obligation issued under this subchapter:

(1)is not a debt of the municipality;

(2)may be a charge only against the revenue or property 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.

(b)Each obligation issued under this subchapter must contain the following provision: "The holder of this obligation is not entitled to demand payment of this obligation from any money raised by taxation."

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 1505.156. OBLIGATIONS NOT PAYABLE FROM TAXES. (a) An obligation issued under this subchapter:
(1) is not a debt of the municipality;
(2) may be a charge only against the revenue or property 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.
(b) Each obligation issued under this subchapter must contain the following provision: "The holder of this obligation is not entitled to demand payment of this obligation from any money raised by taxation."