Texas § 8512.0406 USE OF EXCESS REVENUE.

Texas Statutes

§ 8512.0406 — USE OF EXCESS REVENUE.

Texas § 8512.0406

Code SDSpecial District Local Laws Code

This text of Texas § 8512.0406 (USE OF EXCESS 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. Special District Local Laws Code Code Ann. § 8512.0406 (2026).

Text

Text of section effective on April 01, 2027 Sec. 8512.0406. USE OF EXCESS REVENUE. If the authority receives revenue in excess of that required for the purposes specified by Sections 8512.0405 (b)(1), (2), (3), and (5), the board may:

(1)use the excess revenue to:

(A)establish a reasonable depreciation and emergency fund; or

(B)retire bonds issued under this chapter by purchase and cancellation or redemption; or

(2)apply the excess revenue to any corporate purpose.

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Text of section effective on April 01, 2027
Sec. 8512.0406. USE OF EXCESS REVENUE. If the authority receives revenue in excess of that required for the purposes specified by Sections 8512.0405 (b)(1), (2), (3), and (5), the board may:
(1) use the excess revenue to:
(A) establish a reasonable depreciation and emergency fund; or
(B) retire bonds issued under this chapter by purchase and cancellation or redemption; or
(2) apply the excess revenue to any corporate purpose.