Sec. 1505.253. AUTHORITY TO ISSUE BONDS. A municipality may:
(1) issue bonds for a purpose described by Section 1505.252 and provide for the payment of the principal of and interest on the bonds from the income of the facility, including income from leasing the facility, less the reasonable cost of the operation and maintenance of the facility; or
(2) issue bonds for that purpose in the manner provided for the issuance of other municipal bonds payable from an ad valorem tax imposed on taxable property in the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Section: Previous 1505.206 1505.207 1505.208 1505.209 1505.210 1505.211 1505.212 1505.213 1505.214 1505.215 1505.216 1505.217 1505.251 1505.252 1505.253Last modified: September 28, 2016