Sec. 1477.306. BONDS NOT PAYABLE FROM TAXATION; EXCEPTION. (a) The owner or holder of a bond issued under this subchapter is not entitled to demand payment of the principal of or interest on the bond from money raised by taxation. (b) Subsection (a) does not apply to a demand for payment from hotel occupancy taxes that are pledged under Chapter 352 , Tax Code, to the payment of the bond.
‹ Prev All Texas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.