Texas § 501.207 BONDS NOT DEBT OF STATE OR AUTHORIZING UNIT.

Texas Statutes

§ 501.207 — BONDS NOT DEBT OF STATE OR AUTHORIZING UNIT.

Texas § 501.207

Code LGLocal Government Code

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Bluebook

Tex. Local Government Code Code Ann. § 501.207 (2026).

Text

Sec. 501.207. BONDS NOT DEBT OF STATE OR AUTHORIZING UNIT.

(a)Bonds issued under this subtitle are not a debt or pledge of the faith and credit of this state, the authorizing unit of the corporation issuing the bonds, or any other political corporation, subdivision, or agency of this state.

(b)The revenue bonds issued under this subtitle must contain on their face a statement to the effect that:

(1)neither this state, the authorizing unit of the corporation issuing the bonds, nor any other political corporation, subdivision, or agency of this state is obligated to pay the principal of or the interest on the bonds; and

(2)neither the faith and credit nor the taxing power of this state, the authorizing unit of the corporation issuing the bonds, or any other political corporation, subdivi

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Sec. 501.207. BONDS NOT DEBT OF STATE OR AUTHORIZING UNIT. (a) Bonds issued under this subtitle are not a debt or pledge of the faith and credit of this state, the authorizing unit of the corporation issuing the bonds, or any other political corporation, subdivision, or agency of this state.
(b) The revenue bonds issued under this subtitle must contain on their face a statement to the effect that:
(1) neither this state, the authorizing unit of the corporation issuing the bonds, nor any other political corporation, subdivision, or agency of this state is obligated to pay the principal of or the interest on the bonds; and
(2) neither the faith and credit nor the taxing power of this state, the authorizing unit of the corporation issuing the bonds, or any other political corporation, subdivision, or agency of this state is pledged to the payment of the principal of or the interest on the bonds.