Sec. 1508.160. CHARGES. (a) The governing body of a municipality may impose and collect charges for the use of a facility described by Section 1508.152(a).
(b) A municipality shall impose and collect charges in an amount 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; 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 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