Gavvy: Gov’t Code, Sec. 1503.105. Bonds Not Payable from Taxes.

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Sec. 1503.105. Bonds Not Payable from Taxes.

Sec. 1503.105. BONDS NOT PAYABLE FROM TAXES. A municipality may not use proceeds of a tax to pay the principal of or interest on:

(1) bonds issued under this subchapter; or

(2) bonds issued to refund bonds issued under this subchapter.

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

Gavvy last updated this database on: Sep 6, 2024