Texas Transportation Code

§ 367.060 — BONDS AND WARRANTS NOT PAYABLE FROM TAXES

TN § 367.060Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 367. MUNICIPAL TOLL BRIDGES OVER RIO GRANDE · Art. B. ACQUIRING EXISTING BRIDGE; BUILDING REPLACEMENT OR ADDITIONAL BRIDGE

Statute text

View on source

(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."

Legislative history

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