Tex. Ins. Code § 2210.6355 · Subchapter M-1. STATE-FUNDED FINANCING ARRANGEMENTS
SOURCE OF PAYMENT; STATE DEBT NOT CREATED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A financing arrangement entered into under Section 2210.632 is payable solely from revenue as provided by this subchapter.
(b) A financing arrangement entered into under Section 2210.632 is not a debt of this state or any state agency or political subdivision of this state and does not constitute a pledge of the faith and credit of this state or any state agency or political subdivision of this state.
(c) Each financing arrangement entered into under Section 2210.632 must state that:
(1) except as otherwise provided by this subchapter, neither this state nor a state agency, political corporation, or political subdivision of this state is obligated to pay the principal of or interest on the financing arrangement; and
(2) neither the faith and credit nor the taxing power of this state or a state agency, political corporation, or political subdivision of this state is pledged to the payment of the principal of or interest on the financing arrangement.
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 895 (H.B. 3689), Sec. 1.15, eff. September 1, 2025.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2210.htm
- Text hash
- sha256 e472b3bc3b1eed8e69c06e56657be26b543ea1acf94e206278b3b587121fbd06
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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.