Texas Government Code Title 9, Chapter 1506 - Bonds For Municipal Parking And Transportation Facilities
SUBCHAPTER A REVENUE BONDS FOR PARKING FACILITIES IN HOME-RULE MUNICIPALITIES WITH POPULATION OF LESS THAN 60,000
- Texas Section 1506.001 - Applicability Of Subchapter
This Subchapter applies only to a home-rule municipality that: (1) has a population of less than 60,000; and (2) on January 1, 1949, owned and...
- Texas Section 1506.002 - Authority To Issue Revenue Bonds
The governing body of a municipality by ordinance may issue revenue bonds to construct a building or other permanent improvement on a parking lot owned...
- Texas Section 1506.003 - Pledge Of Revenue
(a) In this section, "net revenue" means gross revenue minus all operation and maintenance expenses. (b) Bonds issued under this subchapter may be secured only...
- Texas Section 1506.004 - Bonds Not Payable From Taxes
(a) A bond issued under this subchapter: (1) is not a debt of the municipality; (2) may be a charge only on the revenue pledged...
- Texas Section 1506.005 - Election
A municipality may issue bonds under this subchapter without an election, but the governing body of the municipality may hold an election in compliance with...
- Texas Section 1506.006 - Maturity
A bond issued under this subchapter must: (1) be payable serially; and (2) mature not later than 40 years after its date. Added by Acts...
- Texas Section 1506.007 - Signatures
A bond issued under this subchapter must be signed by the mayor of the municipality and countersigned by the secretary of the municipality. Added by...
- Texas Section 1506.008 - Exemption From Taxation
A bond issued under this subchapter is exempt from taxation by this state or by a municipal corporation or any other political subdivision of this...
- Texas Section 1506.009 - Personnel; Operation And Maintenance Expenses
A municipality may employ personnel necessary to operate a building or other improvement financed under this subchapter. The costs of operation and maintenance of the...
- Texas Section 1506.010 - Fees For Services; Reserves
(a) A municipality may establish and enforce fees for the use of a building or other improvement financed under this subchapter and the parking lot...
SUBCHAPTER B BONDS FOR PARKING FACILITIES IN HOME-RULE MUNICIPALITIES
- Texas Section 1506.011 - Additional Bonds
While any bonds issued under this subchapter are outstanding, the municipality may not issue additional bonds of equal dignity against the pledged revenue, except to...
- Texas Section 1506.051 - Applicability Of Subchapter
This subchapter applies only to a home-rule municipality. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
- Texas Section 1506.052 - Authority For Parking Facilities
(a) A municipality may establish, acquire, lease as lessor or lessee, construct, improve, enlarge, equip, repair, operate, or maintain a structure, parking area, parking garage,...
- Texas Section 1506.053 - Authority To Establish Improvement Districts And Issue Bonds
The governing body of a municipality may: (1) designate by clearly defined boundaries one or more improvement districts within the municipality; and (2) borrow money...
- Texas Section 1506.054 - Election
(a) A municipality may not issue bonds to acquire or construct a facility in an improvement district under this subchapter unless a majority of the...
- Texas Section 1506.055 - Form Of Bond
A bond issued under this subchapter must specify the purpose for which it is issued. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1,...
- Texas Section 1506.056 - Sale Of Bonds
A municipality may sell bonds issued under this subchapter in lots as the governing body of the municipality directs. Added by Acts 1999, 76th Leg.,...
- Texas Section 1506.057 - Interest And Sinking Fund Tax
(a) A municipality may not issue bonds under this subchapter creating a debt against the municipality or an improvement district unless the municipality provides for...
- Texas Section 1506.058 - Proceeds Of Tax
The municipal treasurer shall keep money from the tax imposed under Section 1506.057 in a fund separate from other funds. Added by Acts 1999, 76th...
- Texas Section 1506.059 - Investment Of Sinking Fund
The sinking fund for bonds issued under this subchapter may be invested in securities that are permitted by law for the investment of sinking funds...
- Texas Section 1506.060 - Eminent Domain
A municipality may exercise the power of eminent domain to acquire the fee simple title to property to provide a site for a facility authorized...
SUBCHAPTER C REVENUE BONDS FOR PARKING IMPROVEMENTS IN CERTAIN COASTAL MUNICIPALITIES
- Texas Section 1506.061 - Relocation Or Alteration Expense
If a municipality, in the exercise of a power under this subchapter, including the power of relocation, makes necessary the relocation or rerouting of, or...
- Texas Section 1506.101 - Applicability Of Subchapter
This subchapter applies only to a municipality that: (1) is located on the Gulf of Mexico or on a channel, canal, bay, or inlet connected...
- Texas Section 1506.102 - Definition
In this subchapter, "parking improvement" means a permanent public improvement consisting of a structure, parking area, or facility for off-street parking or storage of motor...
- Texas Section 1506.103 - Authority For Parking Improvements
A municipality may establish, acquire, lease as lessor or lessee, construct, improve, enlarge, equip, repair, operate, or maintain a parking improvement. Added by Acts 1999,...
- Texas Section 1506.104 - Authority To Issue Revenue Bonds
The governing body of a municipality by ordinance may issue revenue bonds to provide all or part of the money to establish, acquire, lease, construct,...
- Texas Section 1506.105 - Pledge Of Revenue
(a) Bonds issued under this subchapter must be secured by a pledge of and be payable from all or a designated part of the revenue...
- Texas Section 1506.106 - Lien On Parking Improvement
Subject to any limitation contained in any previous pledge, the governing body of a municipality may, in addition to pledging the revenue from a parking...
- Texas Section 1506.107 - Bonds Not Payable From Taxes
The owner or holder of a bond issued under this subchapter is not entitled to demand payment of the principal of or interest on the...
- Texas Section 1506.108 - Contents Of Ordinance Authorizing Bonds
(a) The ordinance authorizing the issuance of bonds under this subchapter may provide for the flow of funds and the establishment and maintenance of an...
- Texas Section 1506.109 - Adoption And Execution Of Documents
The municipality may adopt and have executed any other proceeding or instrument necessary or convenient to the issuance of bonds under this subchapter. Added by...
- Texas Section 1506.110 - 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 1506.111 - 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 1506.112 - 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 1506.113 - Investment Of Bond Proceeds And Funds
(a) The bond proceeds, until they are needed to implement the purpose for which the bonds were issued, may be invested in direct obligations of...
- Texas Section 1506.114 - Charges For Services
The governing body of a municipality shall impose and collect charges for services provided in connection with a parking improvement the revenue of which is...
- Texas Section 1506.115 - Refunding Bonds
(a) The governing body of a municipality by ordinance may issue revenue refunding bonds to refund bonds, including revenue refunding bonds, issued under this subchapter....
SUBCHAPTER D REVENUE BONDS FOR PARKING AND TRANSPORTATION FACILITIES IN MUNICIPALITIES WITH POPULATION OF MORE THAN 650,000
- Texas Section 1506.116 - Conflict Or Inconsistency With Municipal Charter
To the extent of a conflict or inconsistency between this subchapter and a municipal charter, this subchapter controls. Added by Acts 1999, 76th Leg., ch....
- Texas Section 1506.151 - Applicability Of Subchapter
This subchapter applies only to a municipality with a population of more than 1.1 million. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1,...
- Texas Section 1506.152 - Authority For Parking And Transportation Facilities
(a) A municipality may acquire, lease as lessor or lessee, construct, improve, enlarge, equip, and operate: (1) an off-street parking facility; or (2) a terminal...
- Texas Section 1506.153 - Contracts And Leases; Joint Development
(a) A municipality may contract with any person to perform any function related to a facility described by Section 1506.152(a). (b) A municipality may lease...
- Texas Section 1506.154 - Authority To Issue Revenue Bonds
(a) The governing body of a municipality by ordinance may issue revenue bonds for a purpose authorized by Section 1506.152(a). (b) A municipality that proposes...
- Texas Section 1506.155 - Pledge Of Revenue
(a) A municipality may pledge all or part of the revenue, income, or receipts from the charges authorized by Section 1506.161 to the payment of...
- Texas Section 1506.156 - Additional Security
(a) Bonds issued under this subchapter may be additionally secured by: (1) an encumbrance on any real property relating to a facility authorized by this...
- Texas Section 1506.157 - 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 1506.158 - Additional Bonds
The ordinance authorizing the issuance of bonds under this subchapter may provide for the subsequent issuance of additional parity bonds or subordinate lien bonds under...
- Texas Section 1506.159 - Sale Of Bonds
A municipality may sell bonds issued under this subchapter in the manner and under the terms provided by the ordinance authorizing the issuance of the...
- Texas Section 1506.160 - Review And Approval Of Contracts Relating To Bonds
(a) If bonds issued under this subchapter state that they are secured by a pledge of revenue or rents from a contract, including a lease...
- Texas Section 1506.161 - Charges
(a) The governing body of a municipality may impose and collect charges for the use or availability of a facility or other property described by...
- Texas Section 1506.162 - Refunding Bonds
(a) A municipality may refund or otherwise refinance bonds issued under this subchapter by issuing refunding bonds under any terms provided by ordinance of the...
- Texas Section 1506.163 - Public Purpose
The acquisition, construction, improvement, enlargement, equipment, operation, and maintenance of a facility or other property described by Section 1506.152(a) is a public purpose and proper...
- Texas Section 1506.164 - Conflict Or Inconsistency With Other Law
(a) When bonds are issued under this subchapter, to the extent of any conflict or inconsistency between this subchapter and another law, this subchapter controls....
Last modified: September 28, 2016