Sec. 505.104.  BOND REPAYMENT.  (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.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.