Sec. 1508.003. PLEDGE OF INCOME. A municipality may pledge the income from a facility or land described by Section 1508.001 to the payment of obligations issued under this subchapter.
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