Tex. Gov't Code § 1501.051 · Subchapter B. APPLICATION OF UTILITY SYSTEM REVENUE TO BONDED DEBT ON SYSTEM
AUTHORITY TO USE UTILITY REVENUE FOR SINKING FUND OR INTEREST PAYMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The governing body of a municipality may appropriate the net revenue from any municipal public utility system, service, or enterprise, in the amount that the governing body determines is in the best interest of the municipality, to:
(1) the credit of the sinking fund for any bonded debt incurred because of the utility system, service, or enterprise; or
(2) the payment of any interest on the bonded debt incurred because of that utility system, service, or enterprise.
(b) A governing body that makes an appropriation under Subsection (a) must make the appropriation:
(1) at the end of the municipality's fiscal year; and
(2) before the governing body adopts a tax rate for that fiscal year.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1501.htm
- Text hash
- sha256 6d28abb94c3fffbe52daf2065e2b3c0aa03e46b39d8d7a79e70447903b8634ab
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
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