Tex. Loc. Gov't Code § 501.207 · Subchapter E. CORPORATE POWERS AND LIMITATIONS RELATING TO BONDS
BONDS NOT DEBT OF STATE OR AUTHORIZING UNIT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Bonds issued under this subtitle are not a debt or pledge of the faith and credit of this state, the authorizing unit of the corporation issuing the bonds, or any other political corporation, subdivision, or agency of this state.
(b) The revenue bonds issued under this subtitle must contain on their face a statement to the effect that:
(1) neither this state, the authorizing unit of the corporation issuing the bonds, nor any other political corporation, subdivision, or agency of this state is obligated to pay the principal of or the interest on the bonds; and
(2) neither the faith and credit nor the taxing power of this state, the authorizing unit of the corporation issuing the bonds, or any other political corporation, subdivision, or agency of this state is pledged to the payment of the principal of or the interest on the bonds.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.501.htm
- Text hash
- sha256 5e99aa410f157ea02aa802dec516fd0797456b48b2f3aa5005f4d0f55a74ede8
- 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.