Texas § GV.1503.155 - OBLIGATION NOT DEBT
Full text of Texas The Texas Constitution § GV.1503.155 — OBLIGATION NOT DEBT, with citation guidance and answers to common questions.
§ GV.1503.155. OBLIGATION NOT DEBT
OBLIGATION NOT DEBT. An obligation described by Section 1503.152 or 1503.153 : (1) may be a charge only on the property encumbered; (2) is not a debt of the municipality; and (3) may not be included in determining the power of the municipality to issue bonds for any purpose authorized by law. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Frequently Asked Questions About Texas § GV.1503.155
What does The Texas Constitution § GV.1503.155 cover?
Section GV.1503.155 ("OBLIGATION NOT DEBT") 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 § GV.1503.155?
A common citation format is "The Texas Constitution § GV.1503.155" (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 § GV.1503.155 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.