Texas § 1505.159 USE OF REVENUE.

Texas Statutes

§ 1505.159 — USE OF REVENUE.

Texas § 1505.159

Code GVGovernment Code

This text of Texas § 1505.159 (USE OF REVENUE.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 1505.159 (2026).

Text

Sec. 1505.159. USE OF REVENUE. Except as provided by Section 1505.160 , a municipality may only use the gross revenue of a fish market acquired or constructed under this subchapter:

(1)to pay the expenses of operating and maintaining the market;

(2)after payment of operating and maintenance expenses, to pay the principal of and interest on any obligation issued to acquire or construct the market; and

(3)after payment of operating and maintenance expenses and debt service, to:

(A)redeem any obligation issued to acquire or construct the market before maturity; or

(B)invest in any security specified in a contract under which money for the acquisition or construction of the market is provided to the municipality.

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Sec. 1505.159. USE OF REVENUE. Except as provided by Section 1505.160 , a municipality may only use the gross revenue of a fish market acquired or constructed under this subchapter:
(1) to pay the expenses of operating and maintaining the market;
(2) after payment of operating and maintenance expenses, to pay the principal of and interest on any obligation issued to acquire or construct the market; and
(3) after payment of operating and maintenance expenses and debt service, to:
(A) redeem any obligation issued to acquire or construct the market before maturity; or
(B) invest in any security specified in a contract under which money for the acquisition or construction of the market is provided to the municipality.