Texas § TN.463.203 - BOND TERMS
Full text of Texas The Texas Constitution § TN.463.203 — BOND TERMS, with citation guidance and answers to common questions.
§ TN.463.203. BOND TERMS
BOND TERMS. (a) An authority's bonds are fully negotiable. An authority may make the bonds redeemable before maturity at the price and subject to the terms that are provided in the authority's resolution authorizing the bonds. The authority's resolution authorizing the bonds may contain any other terms the executive committee considers appropriate. (b) A bond issued under this subchapter is not a debt or pledge of the faith and credit of the state, a political subdivision included in the boundaries of the authority, or any other political subdivision of the state. (c) Each bond issued by an authority under this subchapter must contain on its face a statement substantially to the effect that: (1) the state, a political subdivision included in the boundaries of the authority, or any other political subdivision of the state is not obligated to pay the principal of or the interest on the bond; and (2) the faith and credit and taxing power of the state, a political subdivision included in the boundaries of the authority, or any other political subdivision of the state are not pledged to the payment of the principal of or the interest on the bond. Added by Acts 2019, 86th Leg., R.S., Ch. 151 (H.B. 71 ), Sec. 1, eff. May 24, 2019.
Frequently Asked Questions About Texas § TN.463.203
What does The Texas Constitution § TN.463.203 cover?
Section TN.463.203 ("BOND TERMS") 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 § TN.463.203?
A common citation format is "The Texas Constitution § TN.463.203" (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 § TN.463.203 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.