{"data":{"id":"us-tx/tex.-local-government-code-507.153","jurisdiction":"us-tx","citation":"Tex. Local Government Code § 507.153","heading":"BOND REQUIREMENTS.","body":"Bonds issued under this chapter must:\n(1) be payable only from the revenue of a spaceport developed by the spaceport development corporation issuing the bonds;\n(2) mature not later than 50 years after the date of issuance; and\n(3) state on their faces that the bonds are not an obligation of the State of Texas or a political subdivision of this state, other than the corporation that issued the bonds.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.","path":["LOCAL GOVERNMENT CODE","TITLE 12. PLANNING AND DEVELOPMENT","SUBTITLE C1. ADDITIONAL PLANNING AND DEVELOPMENT PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT","CHAPTER 507. SPACEPORT DEVELOPMENT CORPORATIONS","SUBCHAPTER D. BONDS"],"source_url":"https://statutes.capitol.texas.gov/Docs/LG/htm/LG.507.htm#507.153","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:27Z","sha256":"c0e9d867049990eb6fa80d90cf6caaf1c77a9b0cdb05fbf9fa85d3c1be256fba","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-local-government-code-507.152","next":"us-tx/tex.-local-government-code-507.201"},"notice":"GroundRules: Original legal text. Not legal advice."}