Texas Government Code 1508.054 – Bonds Not Debt of Municipality
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Terms Used In Texas Government Code 1508.054
- Property: means real and personal property. See Texas Government Code 311.005
A bond issued under this subchapter:
(1) is not a debt of the municipality;
(2) may be a charge only on the property or income pledged for the payment of the bond; and
(3) may not be included in determining the power of the municipality to issue bonds for any other purpose authorized by law.