Bonds Not Payable From Taxes

Sec. 265.0174. BONDS NOT PAYABLE FROM TAXES. A bond issued under this subchapter must contain the following provision: "The holder of this obligation is not entitled to demand payment of this obligation out of any money raised by taxation by (name of county) or by (name of municipality) or from any other income of the county or municipality. The board of managers of the hospital has no taxing power." Added by Acts 2001, 77th Leg., ch. 151, Sec. 1, eff. May 16, 2001.