The City of Cleburne shall have the right and power to borrow money on the credit of the City for permanent public improvements or for any other public purpose consistent with the Constitution and laws of the State of Texas. The City shall also have the power to borrow money against the revenues of any municipally-owned utility and to mortgage the physical properties of such utilities in payment of such debt consistent with the Constitution and the laws of the State of Texas. In no event, however, shall revenue bonds be considered an indebtedness of the City of Cleburne nor repaid with funds secured by taxation.
(Adopted by electorate, May 11, 2013)