Texas Transportation Code

§ 367.016 — BONDS AND NOTES NOT PAYABLE FROM TAXES

TN § 367.016Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 367. MUNICIPAL TOLL BRIDGES OVER RIO GRANDE · Art. A. GENERAL AUTHORITY RELATING TO TOLL BRIDGES

Statute text

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A bond or note issued under this subchapter:

(1)is payable only from the revenue or another resource of the municipality; and

(2)is not a tax obligation of the municipality.

Legislative history

Added by Acts 1999, 76th Leg., ch. 227, Sec. 25, eff. Sept. 1, 1999.