Sec. 3971.0605. USE OF REVENUE. Revenue from the sales and use tax imposed under this subchapter is for the use and benefit of the district and may be used for any district purpose. The district may pledge all or part of the revenue to the payment of bonds, notes, or other obligations, and that pledge of revenue may be in combination with other revenue, including tax revenue, available to the district.
Added by Acts 2019, 86th Leg., R.S., Ch. 473 (H.B. 4694), Sec. 1, eff. June 7, 2019.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3971 - Sh130 Municipal Management District No. 1
Subchapter F. Sales and Use Tax
Section 3971.0601. Applicability of Certain Tax Code Provisions
Section 3971.0602. Election; Adoption of Tax
Section 3971.0603. Sales and Use Tax Rate
Section 3971.0604. Notification of Rate Change