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Texas Government Code - GOV'T § 1505.159. Use of Revenue

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

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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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1505.159. Use of Revenue - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1505-159/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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