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Tex. Local Government Code § 504.303

PAYMENT OF BONDS

Texas · Texas Local Government Code · Status: effective

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Tex. Local Government Code § 504.303, PAYMENT OF BONDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/694144
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The proceeds of the sales and use tax imposed under this chapter may be used to pay the principal of, interest on, and other costs relating to the Type A corporation's bonds, but the bonds or any instrument related to the bonds may not give a bondholder a right to demand payment from tax proceeds in excess of the proceeds collected from the tax imposed under this chapter.