Texas Education Code - Section 45.158. Charges For Use Of Stadium
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§ 45.158. CHARGES FOR USE OF STADIUM. (a) The board of
directors shall charge sufficient rates for services rendered by
the stadium and shall use other sources of its revenues so that
revenues will be produced sufficient to:
(1) pay all expenses in connection with the ownership,
operation, and upkeep of the stadium;
(2) pay the interest on the bonds as it becomes due;
(3) create a sinking fund to pay the bonds as they
become due; and
(4) create and maintain a bond reserve fund and other
funds as provided in the bond resolution or trust indenture.
(b) The bond resolution or trust indenture may prescribe
systems, methods, routines, and procedures under which the stadium
shall be operated.
Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. May 30, 1995.
Section: 45.151 45.152 45.153 45.154 45.155 45.156 45.157 45.158 45.159 45.160 45.161 45.162 45.163 45.201 45.202
Last modified: August 10, 2007
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