Sec. 1503.054. PLEDGE OF REVENUE. In addition to taxes, a municipality may pledge to the timely payment of the principal of and interest on warrants issued under this subchapter all or part of the receipts derived from the operation of the airport, including income, rent, revenue, and tolls.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle J - Specific Authority for Municipalities to Issue Securities
Chapter 1503 - Obligations for Municipal Airports
Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000
Section 1503.051. Applicability of Subchapter
Section 1503.053. Authority to Issue Bonds and Warrants
Section 1503.054. Pledge of Revenue
Section 1503.056. Limit on Amount of Warrants
Section 1503.057. Sale of Warrants
Section 1503.058. Action to Collect Warrants; Evidence
Section 1503.059. Authority to Impose Tax
Section 1503.060. Charges for Service or Facility
Section 1503.061. Inconsistency With Other Law or Municipal Charter