Texas § 1509.004 BOND PAYMENTS FROM REVENUE OR TAXES.

Texas Statutes

§ 1509.004 — BOND PAYMENTS FROM REVENUE OR TAXES.

Texas § 1509.004

Code GVGovernment Code

This text of Texas § 1509.004 (BOND PAYMENTS FROM REVENUE OR TAXES.) 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. § 1509.004 (2026).

Text

Sec. 1509.004. BOND PAYMENTS FROM REVENUE OR TAXES.

(a)A municipality may provide for payment of the principal of and interest on bonds issued under this subchapter by:

(1)pledging all or part of the revenue from the sale or lease of all or part of the land, building, or other facility financed by the bonds, after deduction of reasonable operation and maintenance costs;

(2)imposing an annual ad valorem tax; or

(3)combining those sources.

(b)A municipality with a population of 80,000 or more may also provide for the payment of the principal of or interest on the bonds by pledging all or any part of other municipal revenue that is not prohibited from being used for that payment.

(c)A municipality with a population of at least 50,000 that has taken action under Section 1509.001 (a)(3) m

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 1509.004. BOND PAYMENTS FROM REVENUE OR TAXES. (a) A municipality may provide for payment of the principal of and interest on bonds issued under this subchapter by:
(1) pledging all or part of the revenue from the sale or lease of all or part of the land, building, or other facility financed by the bonds, after deduction of reasonable operation and maintenance costs;
(2) imposing an annual ad valorem tax; or
(3) combining those sources.
(b) A municipality with a population of 80,000 or more may also provide for the payment of the principal of or interest on the bonds by pledging all or any part of other municipal revenue that is not prohibited from being used for that payment.
(c) A municipality with a population of at least 50,000 that has taken action under Section 1509.001 (a)(3) may also provide for the payment of the principal of or interest on the bonds issued to finance the action taken by pledging all or any part of other municipal revenue that the municipality is not prohibited from using for that payment.

Legislative History

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by: Acts 2005, 79th Leg., Ch. 1302 (H.B. 2931 ), Sec. 2, eff. June 18, 2005.