Tex. Spec. Dist. Local Laws Code § 8501.205 · Subchapter E. GENERAL FINANCIAL MATTERS
LIMITATION ON USE OF REVENUE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A charge on the revenue derived from the improvements and facilities of the authority may not be made if the principal or interest of any obligation issued under this chapter is unpaid.
(b) If the revenue derived from the improvements and facilities of the authority exceed the amount required for the payment of items under Section 8501.204(c), the board may pay the cost of improvements and replacements not covered by Section 8501.204(c)(1) and may establish a reasonable depreciation and emergency fund.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8501.htm
- Text hash
- sha256 5afa27fdd724ae90f179f33ff1b2dba2d5704707b30d3e2dbe21e939290cf5ce
- 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
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Special District Local Laws Code
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.