Texas § ES.1161.004 - RESTRICTIONS ON INVESTMENT IN CERTAIN BONDS
Full text of Texas The Texas Constitution § ES.1161.004 — RESTRICTIONS ON INVESTMENT IN CERTAIN BONDS, with citation guidance and answers to common questions.
§ ES.1161.004. RESTRICTIONS ON INVESTMENT IN CERTAIN BONDS
RESTRICTIONS ON INVESTMENT IN CERTAIN BONDS. (a) In this section, "net funded debt" means the total funded debt less sinking funds on hand. (b) A guardian of the estate may purchase the bonds of a county, district, or political subdivision other than a municipality only if the net funded debt of the county, district, or political subdivision that issues the bonds does not exceed 10 percent of the assessed value of taxable property in the county, district, or political subdivision. (c) A guardian of the estate may purchase the bonds of a municipality only if the net funded debt of the municipality does not exceed 10 percent of the assessed value of taxable property in the municipality less that part of the debt incurred for acquisition or improvement of revenue-producing utilities, the revenue of which is not pledged to support other obligations of the municipality. (d) Subsections (b) and (c) do not apply to bonds issued for road purposes in this state under Section 52 , Article III, Texas Constitution, that are supported by a tax unlimited as to rate or amount. Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759 ), Sec. 1.02, eff. January 1, 2014.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § ES.1161.004
What does The Texas Constitution § ES.1161.004 cover?
Section ES.1161.004 ("RESTRICTIONS ON INVESTMENT IN CERTAIN BONDS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § ES.1161.004?
A common citation format is "The Texas Constitution § ES.1161.004" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § ES.1161.004 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.