Sec. 51.525. PLEDGE OF FAITH AND CREDIT. If at an election the electors approve the issuance of bonds and the levy of a tax which applies only to a defined area, the district may issue bonds which pledge only the faith and credit based on the property values in the defined area; however, the district may pledge the full faith and credit of the entire district under the condition of authorization in Section 51.529 of this code.
Acts 1971, 62nd Leg., p. 354, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Section: Previous 51.518 51.519 51.520 51.521 51.522 51.523 51.524 51.525 51.526 51.527 51.528 51.529 51.530 51.531 51.532 NextLast modified: September 28, 2016