Sec. 1504.256. PLEDGE OF MIXED BEVERAGE TAX RECEIPTS. (a) The governing body of a municipality by official action may pledge for the purposes provided by this subchapter a portion of the mixed beverage tax that is remitted to the municipality under Section 183.051, Tax Code.
(b) The total amount of mixed beverage tax receipts pledged under Subsection (a) may not exceed an amount equal to 1-1/2 percent of the gross receipts subject to taxation under Chapter 183, Tax Code, from permittees within the municipality.
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 1504.251. Applicability of Subchapter
Section 1504.252. Authority for Cultural and Parking Facilities
Section 1504.253. Authority to Issue Revenue Bonds
Section 1504.254. Pledge of Revenue
Section 1504.255. Lien on Facility
Section 1504.256. Pledge of Mixed Beverage Tax Receipts
Section 1504.257. Shortage of Mixed Beverage Tax Receipts
Section 1504.258. Additional Use of Mixed Beverage Tax Receipts
Section 1504.259. Bonds Not Payable From Taxes; Exception
Section 1504.260. Contents of Ordinance Authorizing Bonds
Section 1504.261. Adoption and Execution of Documents
Section 1504.263. Sale of Bonds
Section 1504.264. Interim Receipts
Section 1504.265. Use of Bond Proceeds
Section 1504.266. Charges for Services
Section 1504.267. Use of Revenue
Section 1504.268. Conflict or Inconsistency With Municipal Charter