Texas Government Code 1509.206 – Bonds Not Payable From Taxes
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Terms Used In Texas Government Code 1509.206
- 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.
A bond issued under this subchapter:
(1) is payable only from the revenue, income, receipts, or another resource of the municipality as provided by this subchapter; and
(2) is not a tax obligation of the municipality.