Tex. Local Government Code § 505.104
BOND REPAYMENT
Texas · Texas Local Government Code · Status: effective
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- Citation
- Tex. Local Government Code § 505.104, BOND REPAYMENT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/694169
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Full text
(a) Bonds or other obligations that mature in 30 years or less and that are issued to pay the costs of projects of a type added to the definition of "project" by Subchapter D may be made payable from any source of funds available to the Type B corporation, including the proceeds of a sales and use tax imposed under this chapter.
(b) Bonds or other obligations that by their terms are payable from the tax proceeds:
(1) may not be paid wholly or partly from any property taxes imposed or to be imposed by the authorizing municipality; and
(2) are not a debt of and do not give rise to a claim for payment against the authorizing municipality, except as to sales and use tax revenue held by the municipality and required under this chapter to be delivered to the Type B corporation.