Tex. Local Gov't Code Section 322.077
Bonds Not State or County Debt


(a)

The bonds are not a debt of either of the counties, of this state, or of the individual members of the board, but are payable solely from the income and properties of the board.

(b)

Each bond must contain on its face substantially the following provision: “The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation.”
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.

Source: Section 322.077 — Bonds Not State or County Debt, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­322.­htm#322.­077 (accessed Jun. 5, 2024).

Accessed:
Jun. 5, 2024

§ 322.077’s source at texas​.gov