Sec. 2306.472. DEPARTMENT'S BONDS OTHER THAN GENERAL OBLIGATION BONDS NOT OBLIGATIONS OF THE STATE

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Except for bonds authorized by the Texas Constitution and issued under Section 2306.352, the department's bonds:
(1) are solely obligations of the department and are payable solely from funds of the housing finance division;
(2) are not an obligation, debt, or liability of the state; and
(3) do not create or constitute a pledge, giving, or lending of the faith, credit, or taxing power of the state.

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.

                    
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