Tex. Transp. Code Section 367.060
Bonds and Warrants Not Payable from Taxes

(a)

Bonds and warrants issued under this subchapter are not a debt of the municipality that issues them and are a charge only against:

(1)

the pledged revenues of the toll bridge; and

(2)

the property comprising the toll bridge, if a lien is given on that property.

(b)

A bond or warrant issued under this subchapter must include substantially the following provision: “The holder of this obligation is not entitled to demand payment of this obligation out of any money raised by taxation.”
Added by Acts 1999, 76th Leg., ch. 227, Sec. 25, eff. Sept. 1, 1999.

Source: Section 367.060 — Bonds and Warrants Not Payable from Taxes, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­367.­htm#367.­060 (accessed May 4, 2024).

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Accessed:
May 4, 2024

§ 367.060’s source at texas​.gov