Sec. 321.506. USE OF TAX REVENUE BY MUNICIPALITY. Except as provided by Section 321.507, the money received by a municipality under this chapter is for the use and benefit of the municipality and may be used for any purpose for which the general funds of the municipality may be used, except that a municipality may not pledge the revenue received under this chapter to the payment of bonds or other indebtedness.
Added by Acts 1987, 70th Leg., ch. 191, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Subtitle C - Local Sales and Use Taxes
Chapter 321 - Municipal Sales and Use Tax Act
Subchapter F. Revenue Deposit, Distribution, and Use
Section 321.501. Trust Account
Section 321.502. Distribution of Trust Funds
Section 321.5025. Distribution of Trust Funds to Defunding Municipality
Section 321.503. State's Share
Section 321.504. Amounts Retained in Trust Account
Section 321.505. Interest on Trust Account
Section 321.506. Use of Tax Revenue by Municipality
Section 321.507. Use of Additional Municipal Sales and Use Tax
Section 321.508. Pledge of Tax Revenue
Section 321.509. Tax Powers of Municipality Not Limited
Section 321.510. Reallocation of Municipal or Local Governmental Entity Tax Revenue