Texas Government Code 1473.137 – Bonds Not Payable From Taxes
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(a) Except as provided by Subsection (b), each bond issued under this subchapter must include the following provision: “The holder of this obligation is not entitled to demand payment of this obligation from money raised by taxation.”
(b) A bond may not contain the provision specified by Subsection (a) if the commissioners court has provided for the payment of the bond from tax revenue under § 1473.136(b).
Terms Used In Texas Government Code 1473.137
- 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.