The city shall have the power to borrow money on the credit
of the city and to issue general obligation bonds for permanent public
improvements or for any other public purpose not prohibited by the
constitution and laws of the State of Texas, and to issue refunding
bonds to refund outstanding bonds of the city previously issued. All
such bonds shall be issued in conformity with the laws of the State
of Texas.
(Prop. No. 5, 1984)
The city shall have power to borrow money for the purpose of
constructing, purchasing, improving, extending or repairing of public
utilities, recreational facilities or any other self-liquidating municipal
function not prohibited by the constitution and laws of the State
of Texas, and to issue revenue bonds to evidence the obligation created
thereby. Such bonds shall be a charge upon and payable solely from
the properties, or interest therein, pledged, or the income therefrom,
or both, and shall never be a debt of the city. All such bonds shall
be issued in conformity with the laws of the State of Texas.
(Prop. No. 5, 1984)
All bonds of the city having been issued and sold in accordance
with the terms of the section, and having been delivered to the purchasers
thereof, shall thereafter be incontestable, and all bonds issued to
refund and in exchange for outstanding bonds previously issued shall,
after said exchange, be incontestable.
(Prop. No. 5, 1992)
(Repealed by Prop. No. 5, 1984)
(Repealed by Prop. No. 5, 1984)
(Repealed by Prop. No. 5, 1984)
