Texas Government Code Title 9, Chapter 1503 - Obligations For Municipal Airports
SUBCHAPTER A REVENUE BONDS FOR AIRPORTS
- Texas Section 1503.001 - Authority To Issue Revenue Bonds
(a) A municipality by ordinance may issue revenue bonds to: (1) establish, improve, enlarge, extend, or repair: (A) an airport of the municipality; or (B)...
- Texas Section 1503.002 - Bonds Payable From Revenue
Bonds issued under this subchapter must be payable from all or a designated part of the revenue from the airport for which the bonds are...
- Texas Section 1503.003 - Pledge Of Tax For Operation And Maintenance Expenses; Proceeds
(a) In addition to or instead of the pledge of revenue and income of the airport authorized by Subchapter C, a municipality may impose and...
- Texas Section 1503.004 - Contents Of Ordinance Authorizing Bonds
(a) The ordinance authorizing the issuance of bonds under this subchapter may: (1) provide for the flow of funds and the establishment and maintenance of...
- Texas Section 1503.005 - Adoption And Execution Of Documents
A municipality may adopt or have executed any other proceeding or instrument necessary or convenient for the issuance of bonds under this subchapter. Added by...
- Texas Section 1503.006 - Maturity
A bond issued under this subchapter must mature not later than 40 years after its date. Added by Acts 1999, 76th Leg., ch. 227, Sec....
- Texas Section 1503.007 - Signatures
A bond issued under this subchapter must be signed by the mayor of the municipality and countersigned by the secretary or clerk of the municipality....
- Texas Section 1503.008 - Sale Of Bonds
A municipality may sell bonds issued under this subchapter under the terms determined by the governing body of the municipality to be the most advantageous...
- Texas Section 1503.009 - Investment Of Bond Proceeds And Funds
(a) The bond proceeds, until they are needed for the purpose for which the bonds were issued, may be invested in direct obligations of the...
- Texas Section 1503.010 - Refunding Bonds
(a) A municipality by ordinance may issue revenue refunding bonds to refund original bonds or refunding bonds issued under this subchapter or Subchapter C. (b)...
SUBCHAPTER B BONDS AND WARRANTS FOR AIRPORTS IN MUNICIPALITIES WITH POPULATION OF MORE THAN 40,000
- Texas Section 1503.011 - Applicability Of Other Law
Except to the extent of a conflict or inconsistency with this subchapter, Subchapter C applies to bonds issued under this subchapter. Added by Acts 1999,...
- Texas Section 1503.051 - Applicability Of Subchapter
This subchapter applies only to a municipality with a population of more than 40,000. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff....
- Texas Section 1503.052 - Definition
In this subchapter, "airport" includes all land and any building or other improvement necessary or convenient to establish or operate an airport, including land or...
- Texas Section 1503.053 - Authority To Issue Bonds And Warrants
(a) A municipality may borrow money and may issue bonds and warrants to finance all or part of the cost of acquiring, constructing, improving, enlarging,...
- Texas Section 1503.054 - Pledge Of Revenue
In addition to taxes, a municipality may pledge to the timely payment of the principal of and interest on warrants issued under this subchapter all...
- Texas Section 1503.055 - Maturity
Warrants issued under this subchapter must mature annually in such amounts so that the aggregate amount of principal and interest due in each year is...
- Texas Section 1503.056 - Limit On Amount Of Warrants
A municipality may not issue warrants under this Subchapter in an aggregate amount in excess of $125,000. Added by Acts 1999, 76th Leg., ch. 227,...
- Texas Section 1503.057 - Sale Of Warrants
A municipality may sell warrants issued under this subchapter at a public or private sale. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1,...
- Texas Section 1503.058 - Action To Collect Warrants; Evidence
In any action brought to enforce the collection of warrants issued under this subchapter that have been approved by the attorney general and registered by...
- Texas Section 1503.059 - Authority To Impose Tax
(a) A municipality that issues warrants under this subchapter shall annually impose a tax in an amount sufficient to pay when due the principal of...
- Texas Section 1503.060 - Charges For Service Or Facility
(a) The governing body of a municipality that issues warrants under this subchapter shall prescribe by ordinance and collect a reasonable rate, rent, or other...
SUBCHAPTER C REVENUE BONDS FOR AIRPORTS IN MUNICIPALITIES WITH POPULATION OF MORE THAN 70,000
- Texas Section 1503.061 - Inconsistency With Other Law Or Municipal Charter
To the extent of an inconsistency between this subchapter and another law or a municipal charter, this subchapter controls. Added by Acts 1999, 76th Leg.,...
- Texas Section 1503.101 - Applicability Of Subchapter
This subchapter applies only to a municipality with a population of more than 70,000. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff....
- Texas Section 1503.102 - Authority To Issue Revenue Bonds
(a) In this section, "improvement" includes the construction or enlargement of a hangar or a related building for use by a tenant or concessionaire of...
- Texas Section 1503.103 - Pledge Of Revenue
(a) Bonds issued under this subchapter must be secured by a pledge of all or a designated part of the revenue from the operation of...
- Texas Section 1503.104 - Lien On Airport
Subject to a limitation contained in a previous pledge, if any, and in addition to the pledge of revenue under Section 1503.103, the governing body...
- Texas Section 1503.105 - Bonds Not Payable From Taxes
A municipality may not use proceeds of a tax to pay the principal of or interest on: (1) bonds issued under this subchapter; or (2)...
- Texas Section 1503.106 - Maturity
A bond issued under this subchapter must mature not later than 30 years after its date. Added by Acts 1999, 76th Leg., ch. 227, Sec....
- Texas Section 1503.107 - Charges For Services; Reserves
If the governing body of a municipality pledges the revenue of a property or facility of an airport to the payment of bonds issued under...
- Texas Section 1503.108 - Refunding Bonds
A municipality may issue refunding bonds to be exchanged for or to provide money to redeem bonds issued under this subchapter. Added by Acts 1999,...
- Texas Section 1503.109 - Pledge And Use Of Proceeds Of Tax By Municipalities With Population Of 125,000 Or More
(a) This section applies only to a home-rule municipality that: (1) has a population of 125,000 or more; and (2) operates for airport purposes real...
SUBCHAPTER D ENCUMBRANCE OF AIRPORTS IN MUNICIPALITIES WITH POPULATION OF MORE THAN 160,000
- Texas Section 1503.110 - Pledge And Use Of Proceeds Of Tax By Municipalities With Population Of 200,000 Or More
(a) This section applies only to a home-rule municipality that: (1) has a population of 200,000 or more; and (2) owns real property acquired for...
- Texas Section 1503.151 - Applicability Of Subchapter
This subchapter applies only to a municipality with a population of more than 160,000. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff....
- Texas Section 1503.152 - Pledge Of Income
A municipality may pledge the income from its airport and anything the municipality acquires relating to the airport to secure the payment of money to:...
- Texas Section 1503.153 - Encumbrance Of Airport
A municipality may encumber its airport and anything the municipality acquires relating to the airport to secure the payment of money to: (1) purchase the...
- Texas Section 1503.154 - Grant Of Franchise
As additional security for the encumbrance, a municipality that encumbers an airport under Section 1503.153 may provide in the encumbrance for a grant, to the...
- Texas Section 1503.155 - Obligation Not Debt
An obligation described by Section 1503.152 or 1503.153: (1) may be a charge only on the property encumbered; (2) is not a debt of the...
SUBCHAPTER E ADDITIONAL POWERS OF MUNICIPALITIES WITH POPULATION OF 1.2 MILLION OR MORE
- Texas Section 1503.156 - Authority To Issue Notes And Warrants Without Election
(a) A municipality may issue notes or warrants in an amount not to exceed $100,000 for the purposes described by this subchapter without an election....
- Texas Section 1503.201 - Applicability Of Subchapter
This subchapter applies only to a municipality with a population of 1.9 million or more. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1,...
- Texas Section 1503.202 - Competitive Bids And Payment Or Performance Bonds Not Required
(a) A municipality that issues revenue bonds to finance the construction or acquisition of a building, improvement, or facility at an airport owned and operated...
- Texas Section 1503.203 - Payment Of Prevailing Wage Rates
An expenditure of or agreement to spend bond proceeds covered by this subchapter for the construction of a building, improvement, or facility must be conditioned...
Last modified: September 28, 2016