Tex. Gov't Code § 1505.059 · Subchapter B. BONDS FOR NAVIGATIONAL FACILITIES IN CERTAIN COASTAL MUNICIPALITIES
BONDS NOT PAYABLE FROM TAXES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A bond issued under this subchapter:
(1) is not a debt of the municipality within the meaning of any state constitutional or statutory limitation; and
(2) may not be included in determining the power of the municipality to issue bonds for any purpose authorized by law.
(b) Each bond and coupon issued under this subchapter must state on its face that:
(1) the bond or coupon is issued under this subchapter;
(2) the bond or coupon is not a debt of the municipality within the meaning of any state constitutional or statutory limitation; and
(3) the holder of the bond or coupon is not entitled to demand payment of the bond or coupon from any money raised by taxation.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1505.htm
- Text hash
- sha256 1ce7f0088b57b235832c89b3a939d44437ca1d0b88e1356f94860ebe063d5636
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
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