GroundRules
Tex. Government Code § 1503.107: CHARGES FOR SERVICES; RESERVES.
Where this section sits in the code
- GOVERNMENT CODE
- TITLE 9. PUBLIC SECURITIES
- SUBTITLE J. SPECIFIC AUTHORITY FOR MUNICIPALITIES TO ISSUE SECURITIES
- CHAPTER 1503. OBLIGATIONS FOR MUNICIPAL AIRPORTS
- SUBCHAPTER C. REVENUE BONDS FOR AIRPORTS IN MUNICIPALITIES WITH POPULATION OF MORE THAN 70,000
If the governing body of a municipality pledges the revenue of a property or facility of an airport to the payment of bonds issued under this subchapter, the governing body shall impose and collect a charge for services rendered in connection with the use of the property or facility in an amount at least sufficient to:
(1) provide for the maintenance and operation expenses of the property or facility;
(2) pay the principal of and interest on the bonds as required by the ordinance authorizing the bonds; and
(3) provide any reserve fund required by the ordinance authorizing the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Collected 2026-08-27T01:47:16Z. Source file · JSON