Sec. 1506.155. PLEDGE OF REVENUE. (a) A municipality may pledge all or part of the revenue, income, or receipts from the charges authorized by Section 1506.161 to the payment of bonds issued under Section 1506.154(a), including principal, interest, and any other amounts required or permitted in connection with the bonds.
(b) A municipality may pledge to the payment of bonds issued under Section 1506.154(b) all or part of the revenue, income, or receipts from:
(1) the ownership or operation of any facility included in the municipality's parking system established under Section 1506.152(b); or
(2) parking meters on or adjacent to the public streets 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 1506.151. Applicability of Subchapter
Section 1506.152. Authority for Parking and Transportation Facilities
Section 1506.153. Contracts and Leases; Joint Development
Section 1506.154. Authority to Issue Revenue Bonds
Section 1506.155. Pledge of Revenue
Section 1506.156. Additional Security
Section 1506.158. Additional Bonds
Section 1506.159. Sale of Bonds
Section 1506.160. Review and Approval of Contracts Relating to Bonds
Section 1506.162. Refunding Bonds