Tex. Gov't Code § 1502.058 · Subchapter B. PUBLIC SECURITIES FOR UTILITY SYSTEMS, PARKS, OR POOLS
LIMITATION ON USE OF REVENUE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by Subsection (b) or (c), by Section 1502.059, or by Section 271.052, Local Government Code, a municipality may not use the revenue of a utility system, park, or swimming pool to pay any other debt, expense, or obligation of the municipality until the debt secured by the revenue is finally paid.
(b) This section does not apply to a payment made in lieu of ad valorem taxes previously paid by a private owner of a utility system.
(c) This section does not apply to a payment made from surplus revenue of a utility system, park, or swimming pool, as provided by the proceedings authorizing the issuance of public securities under this chapter.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Renumbered from Government Code Sec. 1502.060 and amended by Acts 1999, 76th Leg., ch. 1064, Sec. 22, 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.1502.htm
- Text hash
- sha256 311c93024308ffa64c5c8868e9e407dd0b2acf32e7acd25ab56eb42db1d86b5f
- 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
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