Tex. Loc. Gov't Code § 293.027 · Subchapter B. CREATION AND OPERATION
OPERATION OF AUTHORITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The property of the authority must be held and operated only for governmental and public purposes, for the use and benefit of the public, and without private profit. The property of the authority is exempt from taxation.
(b) The authority shall charge rent, impose charges, and use its sources of revenue to generate revenue sufficient to:
(1) pay the expenses related to ownership, operation, and upkeep of the authority's property;
(2) pay interest on the authority's bonds as it becomes due;
(3) create a sinking fund to pay the authority's bonds as they come due; and
(4) create and maintain a bond reserve fund and other funds as provided in the bond resolution or trust indenture.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.293.htm
- Text hash
- sha256 3b70b5f3f4713c01d0e514d666ecceddb8d9389db8e58b69f42fbe5ca459dfa1
- 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.