Tex. Gov't Code § 1505.155 · Subchapter D. OBLIGATIONS FOR FISH MARKETS BY CERTAIN COASTAL MUNICIPALITIES
SECURITY FOR PAYMENT OF OBLIGATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A municipality may secure the payment of an obligation issued under this subchapter by:
(1) mortgaging the physical property acquired or constructed or to be acquired or constructed and pledging the net revenue derived from the property; or
(2) pledging the net revenue derived from the property without a mortgage on the property.
(b) A municipality that mortgages the property may provide in the encumbrance for a grant, to a purchaser under sale or foreclosure, of a permit to operate the fish market, subject to all laws then in force regulating the operation of such an industry.
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.1505.htm
- Text hash
- sha256 fbe0af2e8c932c391c82424ccbf99deb8e289228ef6c5f73f787da43d413cc80
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.