GroundRules
Tex. Local Government Code § 321.077: BONDS NOT STATE OR COUNTY DEBT.
Where this section sits in the code
- LOCAL GOVERNMENT CODE
- TITLE 10. PARKS AND OTHER RECREATIONAL AND CULTURAL RESOURCES
- SUBTITLE B. COUNTY PARKS AND OTHER RECREATIONAL AND CULTURAL RESOURCES
- CHAPTER 321. ISLAND PARKS, BEACH PARKS, AND PUBLIC BEACHES OF COASTAL COUNTIES
- SUBCHAPTER D. REVENUE BONDS
(a) The bonds are not a debt of the county or this state within the meaning of any constitutional or statutory provision, but are payable solely from the revenues pledged to their payment as provided by this subchapter.
(b) Each bond must contain on its face substantially the following provision: "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."
(c) The bonds may not be considered in determining the power of the county to incur obligations payable from taxation.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Collected 2026-08-27T01:47:27Z. Source file · JSON