Sec. 1508.054. BONDS NOT DEBT OF MUNICIPALITY

Latest version.

A bond issued under this subchapter:
(1) is not a debt of the municipality;
(2) may be a charge only on the property or income pledged for the payment of the bond; and
(3) may not be included in determining the power of the municipality to issue bonds for any other purpose authorized by law.

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

                    
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