Tex. Gov't Code § 1505.159 · Subchapter D. OBLIGATIONS FOR FISH MARKETS BY CERTAIN COASTAL MUNICIPALITIES
USE OF REVENUE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
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.
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 1b7b75382b4f9df3314caa9eedd9659e00fb9390a6422870ea50787f68623d47
- 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
This section cites
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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.