Texas Local Government Code

§ 107.005 — PAYMENT OF OBLIGATIONS

LG § 107.005Title 4. FINANCES · Part A. MUNICIPAL FINANCES · Ch. 107. OBLIGATIONS FOR CERTAIN LIABILITIES TO PUBLIC PENSION FUNDS OF A MUNICIPALITY

Statute text

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An obligation issued under Section 107.003 may be made payable by the municipality from:

(1)the fund from which compensation is paid to its officers and employees;

(2)its general fund; or

(3)taxes, revenues, both taxes and revenues, or any other source or combination of sources of money that the municipality may use under state law to secure or pay any kind of bond or obligation.

Legislative history

Added by Acts 2003, 78th Leg., ch. 1271, Sec. 1, Sept. 1, 2003.