Tex. Gov't Code § 1507.154 · Subchapter D. TAX BONDS FOR PAYMENT OF CURRENT EXPENSES
LIMITATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A municipality may not issue bonds under this subchapter in a principal amount that:
(1) exceeds the amount of loss sustained or anticipated by the municipality and the cost of issuing the bonds; or
(2) would result in the outstanding aggregate principal amount of tax bond indebtedness of the municipality exceeding 10 percent of the assessed valuation of taxable property in the municipality according to the most recent ad valorem tax roll of the municipality.
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.1507.htm
- Text hash
- sha256 00eb98aa305b92ae12de0b831e52d8d73a14104db233df654854affaa134076c
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.