Sec. 1506.004. BONDS NOT PAYABLE FROM TAXES

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(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."

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

                    
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