Sec. 284.036. BONDS SECURED SOLELY BY REVENUE. Bonds secured solely by a pledge of project revenue:
(1) are not a debt of the county issuing the bonds but are solely a charge on project revenue;
(2) may not be considered in determining the power of the county to issue for any purpose bonds payable in whole or in part from taxes; and
(3) must state: "The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation."
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
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