Sec. 1509.901. PLEDGE OF REVENUE FROM TOLL BRIDGE CONTRACT. A municipality that receives revenue because of a contract with another municipality relating to the operation of a toll bridge over the Rio Grande may appropriate or pledge all or any part of that revenue to:
(1) redeem or pay the principal of or interest on any bond, note, or warrant that the municipality is authorized to issue; or
(2) retire any other debt the municipality is authorized to incur.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Section: Previous 1509.201 1509.202 1509.203 1509.204 1509.205 1509.206 1509.207 1509.208 1509.209 1509.210 1509.211 1509.212 1509.213 1509.214 1509.901Last modified: September 28, 2016