Sec. 1508.001. AUTHORITY FOR PARKS, RECREATIONAL FACILITIES, AND AIRPORTS. (a) A municipality may:
(1) construct, purchase, or encumber:
(A) a park, swimming pool, golf course, golf course clubhouse, or ballpark;
(B) a fairground or an exposition building;
(C) an airport; or
(D) land on which a facility described by Paragraphs (A)-(C) is located; or
(2) encumber anything acquired or to be acquired that relates to a facility or land constructed or purchased under Subdivision (1).
(b) A municipality may secure the payment of funds to construct, purchase, or equip a facility or land described by Subsection (a)(1).
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 1508 - Obligations for Municipal Parks, Recreational Facilities, and Airports
Subchapter A. Obligations for Parks, Recreational Facilities, and Airports
Section 1508.001. Authority for Parks, Recreational Facilities, and Airports
Section 1508.002. Authority to Issue Bonds, Notes, and Warrants
Section 1508.003. Pledge of Income
Section 1508.004. Authority to Grant Franchise
Section 1508.005. Obligations Not Debt of Municipality