Sec. 1508.154. PLEDGE OF REVENUE. A municipality may pledge all or part of the revenue, income, or receipts from a facility described by Section 1508.152(a) to the payment of bonds, including principal, interest, and any other amounts required or permitted in connection with the bonds.
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
Section 1508.151. Applicability of Subchapter
Section 1508.152. Authority for Park Facilities
Section 1508.153. Authority to Issue Revenue Bonds
Section 1508.154. Pledge of Revenue
Section 1508.155. Additional Security
Section 1508.157. Additional Bonds
Section 1508.158. Sale of Bonds
Section 1508.159. Review and Approval of Contracts by Attorney General
Section 1508.161. Use of Ad Valorem Taxes
Section 1508.162. Refunding Bonds