Sec. 1506.010. FEES FOR SERVICES; RESERVES. (a) A municipality may establish and enforce fees for the use of a building or other improvement financed under this subchapter and the parking lot on which the building or other improvement is located.
(b) While the principal of or interest on a bond issued under this subchapter is outstanding, the municipality shall charge the fees in amounts at least sufficient to:
(1) pay all operating and maintenance expenses in connection with the building or other improvement and the parking lot;
(2) pay the principal of and interest on the outstanding bonds as the principal matures and as the interest accrues; and
(3) establish and maintain any reserves prescribed in the ordinance authorizing the issuance of the bonds.
(c) Fees charged under this section must be equal and uniform within classes defined by the governing body of 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 1506 - Bonds for Municipal Parking and Transportation Facilities
Section 1506.001. Applicability of Subchapter
Section 1506.002. Authority to Issue Revenue Bonds
Section 1506.003. Pledge of Revenue
Section 1506.004. Bonds Not Payable From Taxes
Section 1506.008. Exemption From Taxation
Section 1506.009. Personnel; Operation and Maintenance Expenses