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Texas Government Code - GOV'T § 1503.107. Charges for Services; Reserves

Current as of January 01, 2024 | Updated by Findlaw Staff

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 this subchapter, the governing body shall impose and collect a charge for services rendered in connection with the use of the property or facility in an amount at least sufficient to:

(1) provide for the maintenance and operation expenses of the property or facility;

(2) pay the principal of and interest on the bonds as required by the ordinance authorizing the bonds; and

(3) provide any reserve fund required by the ordinance authorizing the bonds.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1503.107. Charges for Services; Reserves - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1503-107/

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