Sec. 1477.003. BOND PAYMENTS FROM REVENUE OR TAXES. The commissioners court may provide for payment of the principal of and interest on bonds issued under this subchapter by:
(1) pledging all or part of the revenue from a lease of all or part of the real property, building, or other facility financed by the bonds, after deduction of reasonable operation and maintenance costs;
(2) imposing an annual ad valorem tax; or
(3) combining those sources.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle I - Specific Authority for Counties to Issue Securities
Chapter 1477 - Obligations for Other County Purposes
Subchapter A. Bonds for Facilities to Be Leased to Public or Private Entities
Section 1477.001. Authority to Acquire Property for Lease to Public or Private Entity
Section 1477.002. Authority to Issue Bonds
Section 1477.003. Bond Payments From Revenue or Taxes
Section 1477.004. Election Required to Secure Bonds With Taxes
Section 1477.005. Contents of Ordinance, Order, or Resolution Authorizing Bonds
Section 1477.006. Adoption and Execution of Documents
Section 1477.008. Imposition of Tax
Section 1477.009. Grants for Prisons or Law Enforcement Facilities Not Prohibited