Sec. 364.044. REVENUE BONDS. (a) Except for bonds issued under Section 364.045, bonds issued under this chapter are not a debt of the county issuing them and are a charge on and payable solely from the revenues of the toll bridge or bridges and appurtenances acquired through the issuance of the bonds, as provided by the bond proceedings.
(b) Revenue bonds issued under this chapter are not considered in determining the authority of a county to issue bonds for any purpose authorized by law.
(c) A revenue bond issued under this chapter must include the following clause: "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, Sec. 1, eff. Sept. 1, 1995.
Section: Previous 364.021 364.022 364.023 364.024 364.041 364.042 364.043 364.044 364.045 364.046 364.047 364.048 364.049 364.050 364.051 NextLast modified: September 28, 2016