Tex. Loc. Gov't Code § 320.078 · Subchapter D. REVENUE BONDS
BONDS NOT STATE OR COUNTY DEBT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The revenue bonds are not a debt of the county or of the state but are payable solely from the revenues pledged to their payment.
(b) The principal of or interest on revenue bonds or any refunding bonds is not a debt against the tax revenues of the county but is solely a charge on the pledged revenues.
(c) The revenue bonds or refunding bonds may not be considered in determining the power of the county to incur obligations payable from taxation.
(d) Each bond must contain on its face substantially the following provision: "The holder hereof shall never have the right to demand payment of his obligation out of any funds raised or to be raised by taxation."
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.320.htm
- Text hash
- sha256 9db343ffb4a281aaeba291927062f17ed58d04566babc764a682044013b5c417
- 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.