 |
Texas Statutes (Last Updated: January 4, 2014) |
 |
LOCAL GOVERNMENT CODE |
|
Title 12. PLANNING AND DEVELOPMENT |
|
Subtitle C. PLANNING AND DEVELOPMENT PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT |
|
Chapter 392. HOUSING AUTHORITIES ESTABLISHED BY MUNICIPALITIES AND COUNTIES |
|
Subchapter E. BONDS AND OTHER OBLIGATIONS |
Sec. 392.085. LIABILITY ON BONDS AND OTHER OBLIGATIONS
-
(a) A commissioner of an authority or a person who executes the bonds for an authority is not liable personally on the bonds due to the issuance of the bonds.
(b) The bonds and other obligations of an authority are not a debt of a municipality, a county, another political subdivision of the state, or the state, and a municipality, a county, another political subdivision, or the state is not liable on the bonds.
(c) Bonds issued by an authority are payable from only the funds and property of the authority issuing the bonds.
(d) Bonds and other obligations of an authority must state on their face that they are not debts of a municipality, a county, another political subdivision, or the state; that a municipality, a county, another political subdivision, or the state is not liable on the bonds; and that the bonds are payable from only the funds and property of the authority issuing the bonds.