Texas § 505.104 BOND REPAYMENT.

Texas Statutes

§ 505.104 — BOND REPAYMENT.

Texas § 505.104

Code LGLocal Government Code

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Bluebook

Tex. Local Government Code Code Ann. § 505.104 (2026).

Text

Sec. 505.104. BOND REPAYMENT.

(a)Bonds or other obligations that mature in 30 years or less and that are issued to pay the costs of projects of a type added to the definition of "project" by Subchapter D may be made payable from any source of funds available to the Type B corporation, including the proceeds of a sales and use tax imposed under this chapter.

(b)Bonds or other obligations that by their terms are payable from the tax proceeds:

(1)may not be paid wholly or partly from any property taxes imposed or to be imposed by the authorizing municipality; and

(2)are not a debt of and do not give rise to a claim for payment against the authorizing municipality, except as to sales and use tax revenue held by the municipality and required under this chapter to be delivered to the Type B

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Sec. 505.104. BOND REPAYMENT. (a) Bonds or other obligations that mature in 30 years or less and that are issued to pay the costs of projects of a type added to the definition of "project" by Subchapter D may be made payable from any source of funds available to the Type B corporation, including the proceeds of a sales and use tax imposed under this chapter.
(b) Bonds or other obligations that by their terms are payable from the tax proceeds:
(1) may not be paid wholly or partly from any property taxes imposed or to be imposed by the authorizing municipality; and
(2) are not a debt of and do not give rise to a claim for payment against the authorizing municipality, except as to sales and use tax revenue held by the municipality and required under this chapter to be delivered to the Type B corporation.