Texas Government Code 1477.105 – Bonds Not Payable From Taxes
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(a) A bond issued under this subchapter:
(1) is not a debt of the county;
(2) may be a charge only on the revenue pledged for the payment of the bond; and
(3) may not be included in determining the power of the county to issue bonds or incur other indebtedness for any purpose authorized by law.
(b) Each bond issued under this subchapter must contain the following provision: “The holder of this obligation is not entitled to demand payment of this obligation from any money raised by taxation.”
Terms Used In Texas Government Code 1477.105
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.