Sec. 306.055.  TAX BONDS.  (a)  The board may not issue any bonds payable in whole or in part from ad valorem taxes.
(b)  The board may receive and expend the proceeds of bonds that are payable from taxes and have been issued by the governing body of the municipality for park purposes after the bonds have been authorized at an election held in the manner required by law.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.