Texas Government Code Title 9, Chapter 1502 - Public Securities For Municipal Utilities, Parks, Or Pools
SUBCHAPTER A GENERAL PROVISIONS
- Texas Section 1502.001 - Definitions
In this chapter: (1) "Combined system" means any combination of one or more of the following: (A) an electric system; (B) a water system; (C)...
- Texas Section 1502.002 - General Authority For Utility Systems, Parks, And Pools
(a) A municipality may acquire, purchase, construct, improve, enlarge, equip, operate, or maintain any property, including channels or bodies of water known as resacas, interests...
- Texas Section 1502.003 - Creation And Maintenance Of Combined System
Notwithstanding any law or municipal charter provision to the contrary, the governing body of a municipality may create and maintain one or more combined systems...
SUBCHAPTER B PUBLIC SECURITIES FOR UTILITY SYSTEMS, PARKS, OR POOLS
- Texas Section 1502.004 - Conflict With Municipal Charter
To the extent of a conflict between this chapter and a municipal charter, this chapter controls. Added by Acts 1999, 76th Leg., ch. 1064, Sec....
- Texas Section 1502.051 - Authority To Issue Public Securities
(a) The governing body of a municipality may provide funds to acquire, purchase, construct, improve, renovate, enlarge, or equip property, buildings, structures, facilities, or related...
- Texas Section 1502.052 - Pledge Of Revenue
(a) The governing body of a municipality may pledge to the payment of any public securities issued or any obligations incurred under Section 1502.051(c) all...
- Texas Section 1502.053 - Grant Of Franchise
As additional security for public securities issued or obligations incurred under this chapter, the municipality by the terms of the encumbrance may grant a purchaser...
- Texas Section 1502.054 - Obligations Not Payable From Taxes
(a) A public security issued or an obligation incurred under this chapter: (1) is not a debt of the municipality; (2) may be a charge...
- Texas Section 1502.055 - Election
(a) Unless authorized by a majority vote of the qualified voters of the municipality, a municipality may not sell a utility system, park, or pool....
- Texas Section 1502.056 - Operating Expenses As First Lien
(a) If the revenue of a utility system, park, or swimming pool secures the payment of public securities issued or obligations incurred under this chapter,...
- Texas Section 1502.057 - Charges For Services
(a) A municipality shall impose and collect charges for services provided by a utility system in amounts at least sufficient to pay: (1) all operating,...
- Texas Section 1502.058 - Limitation On Use Of Revenue
(a) Except as provided by Subsection (b) or (c), by Section 1502.059, or by Section 271.052, Local Government Code, a municipality may not use the...
- Texas Section 1502.059 - Transfer Of Revenue To General Fund
Notwithstanding Section 1502.058(a) or a similar law or municipal charter provision, a municipality and its officers and utility trustees may transfer to the municipality's general...
- Texas Section 1502.060 - Use And Investment Of Proceeds
(a) To the extent provided by the proceedings authorizing the issuance of the public securities issued under this chapter, a municipality may: (1) use proceeds...
- Texas Section 1502.061 - Additional Obligations To Improve Or Extend Utility System
(a) A municipality that has outstanding public securities secured by the net revenue of a utility system may issue additional public securities or incur other...
- Texas Section 1502.062 - Maturity
A public security issued under this chapter must mature not later than 50 years after its date. Added by Acts 1999, 76th Leg., ch. 1064,...
- Texas Section 1502.063 - Additional Authority Of Municipality With A Population Of 50,000 Or More
Notwithstanding any other provision of this chapter, in connection with the issuance of public securities under this chapter, the governing body of a municipality with...
- Texas Section 1502.064 - Credit Agreement For Reserve Fund
(a) The governing body of a municipality may provide that in lieu of or in addition to providing a cash reserve, a credit agreement, as...
- Texas Section 1502.065 - Refunding Bonds
A municipality may issue public securities in the manner provided by applicable law to refund or otherwise refinance any obligation incurred under this chapter to...
- Texas Section 1502.066 - Records
The mayor of the municipality shall establish and maintain a complete system of records for a utility system, park, or swimming pool the revenue of...
- Texas Section 1502.067 - Records: Noncash Basis
(a) A municipality may maintain its records on facilities under this chapter or any other municipal records on a basis other than a cash basis...
- Texas Section 1502.068 - Annual Report
(a) Annually, on the date determined by the governing body of the municipality, the superintendent or manager of a utility system, park, or pool or...
- Texas Section 1502.069 - Offenses; Penalty
(a) A mayor commits an offense if the mayor fails to: (1) establish the system of records required by Section 1502.066 before the 91st day...
- Texas Section 1502.070 - Management And Control Of Utility System
(a) Management and control of a utility system may be vested in: (1) the municipality's governing body; or (2) a board of trustees named in...
- Texas Section 1502.071 - Rules
(a) The governing body or board of trustees having management and control of a utility system may adopt rules to: (1) govern the provision of...
- Texas Section 1502.072 - Trustee
The proceedings adopted by the governing body of a municipality may provide for: (1) the selection of a trustee to sell the encumbered facility on...
- Texas Section 1502.073 - Notice To Governing Body Before Foreclosure Or Other Action
(a) Unless written notice is given to the governing body of the municipality and to any board of trustees in accordance with this section that...
- Texas Section 1502.074 - Civil Enforcement
A person who resides in a municipality and is a taxpayer or holder of a public security issued or an obligation incurred under this chapter...
Last modified: September 28, 2016