Texas § 1506.004 BONDS NOT PAYABLE FROM TAXES.

Texas Statutes

§ 1506.004 — BONDS NOT PAYABLE FROM TAXES.

Texas § 1506.004

Code GVGovernment Code

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Bluebook

Tex. Government Code Code Ann. § 1506.004 (2026).

Text

Sec. 1506.004. BONDS NOT PAYABLE FROM TAXES.

(a)A bond issued under this subchapter:

(1)is not a debt of the municipality;

(2)may be a charge only on the revenue pledged for the payment of the bond; and

(3)may not be included in determining the power of the municipality to issue bonds payable from taxation.

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

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Sec. 1506.004. BONDS NOT PAYABLE FROM TAXES. (a) A bond issued under this subchapter:
(1) is not a debt of the municipality;
(2) may be a charge only on the revenue pledged for the payment of the bond; and
(3) may not be included in determining the power of the municipality to issue bonds payable from taxation.
(b) A bond issued under this subchapter must contain on its face the following provision: "The holder of this obligation is not entitled to demand payment of this obligation out of any money raised by taxation."