{"data":{"id":"us-tx/tex.-government-code-1508.005","jurisdiction":"us-tx","citation":"Tex. Government Code § 1508.005","heading":"OBLIGATIONS NOT DEBT OF MUNICIPALITY.","body":"An obligation issued under this subchapter:\n(1) is not a debt of the municipality;\n(2) may be a charge only on the facility or land pledged for the payment of the obligation; and\n(3) may not be included in determining the power of the municipality to issue bonds for any purpose authorized by law.\nAdded by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.","path":["GOVERNMENT CODE","TITLE 9. PUBLIC SECURITIES","SUBTITLE J. SPECIFIC AUTHORITY FOR MUNICIPALITIES TO ISSUE SECURITIES","CHAPTER 1508. OBLIGATIONS FOR MUNICIPAL PARKS, RECREATIONAL FACILITIES, AND AIRPORTS","SUBCHAPTER A. OBLIGATIONS FOR PARKS, RECREATIONAL FACILITIES, AND AIRPORTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1508.htm#1508.005","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"0d903046f3e54005a8cfbb047209cc2e504cedefa98c19ad5a66217c0e152bb7","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-1508.004","next":"us-tx/tex.-government-code-1508.006"},"notice":"GroundRules: Original legal text. Not legal advice."}