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Tex. Local Government Code § 504.104

ASSUMPTION OR PAYMENT OF PREEXISTING DEBT PROHIBITED

Texas · Texas Local Government Code · Status: effective

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Tex. Local Government Code § 504.104, ASSUMPTION OR PAYMENT OF PREEXISTING DEBT PROHIBITED, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/694111
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A Type A corporation may not: (1) assume a debt that existed before the date the authorizing municipality authorized the creation of the corporation; or (2) make an expenditure to pay the principal of or interest on a debt that existed before the date prescribed by Subdivision (1).