Texas Transportation Code - Section 284.036. Bonds Secured Solely By Revenue
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§ 284.036. BONDS SECURED SOLELY BY REVENUE. Bonds
secured solely by a pledge of project revenue:
(1) are not a debt of the county issuing the bonds but
are solely a charge on project revenue;
(2) may not be considered in determining the power of
the county to issue for any purpose bonds payable in whole or in
part from taxes; and
(3) must state: "The holder hereof shall never have
the right to demand payment of this obligation out of any funds
raised or to be raised by taxation."
Acts 1995, 74th Leg., ch. 165, § 1, eff. Sept. 1, 1995.
Section: 284.011 284.012 284.031 284.032 284.033 284.034 284.035 284.036 284.037 284.038 284.039 284.040 284.041 284.042 284.043
Last modified: August 10, 2007
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