Tex. Special District Local Laws Code § 8506.155: USE OF EXCESS REVENUE.

If the authority receives revenue in excess of that required for the purposes specified by Section 8506.154(b), the board may:

(1) use the excess revenue to:

(A) establish a reasonable depreciation and emergency fund; or

(B) retire bonds issued under this chapter or its predecessor statute by purchase and cancellation or redemption; or

(2) apply the excess revenue to any corporate purpose.

Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.05, eff. April 1, 2017.