Texas Administrative Code (Last Updated: March 27,2024) |
TITLE 1. ADMINISTRATION |
PART 3. OFFICE OF THE ATTORNEY GENERAL |
CHAPTER 53. MUNICIPAL SECURITIES |
SUBCHAPTER E. APPROVAL OF ISSUES OF CERTIFICATES OF OBLIGATION |
SECTION 53.80. Limitation of Payment for Certificates Payable from Revenues Other Than Taxes
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Certificates, and any interest coupons attached thereto, payable solely from revenues other than taxes shall have printed on their faces a statement to the effect that the holder of said obligation shall never have the right to demand payment of said obligation out of any funds raised or to be raised by taxation.
Source Note: The provisions of this §53.80 adopted to be effective January 1, 1976.