Sec. 1504.208. USE OF INCOME FOR OTHER PURPOSES PROHIBITED. A municipality may not use the income from the exposition or convention hall to pay any other debt, expense, or obligation of the municipality until the debt secured by the income is fully paid.
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 1504 - Obligations for Municipal Buildings
Section 1504.201. Applicability of Subchapter
Section 1504.202. Authority for Exposition and Convention Halls
Section 1504.203. Authority to Issue Bonds, Notes, and Warrants
Section 1504.204. Pledge of Income
Section 1504.205. Obligations Not Payable From Taxes
Section 1504.206. Operating Expenses as First Lien
Section 1504.207. Charges for Services
Section 1504.208. Use of Income for Other Purposes Prohibited
Section 1504.209. Management and Control
Section 1504.212. Notice to Governing Body Before Foreclosure or Other Action