Sec. 1506.161. CHARGES. (a) The governing body of a municipality may impose and collect charges for the use or availability of a facility or other property described by Section 1506.152(a) in the amounts and manner determined by the governing body.
(b) A municipality shall impose pledged charges in amounts that will be at least sufficient, with any other pledged resources, to provide for the payment of:
(1) the principal of, interest on, and any other amounts required in connection with the bonds to which the charges are pledged; and
(2) to the extent required by the ordinance authorizing the issuance of the bonds:
(A) expenses incurred in connection with the bonds; and
(B) operation, maintenance, and other expenses incurred in connection with the facility.
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