Tex. Spec. Dist. Local Laws Code § 8512.0406 · Subchapter D. GENERAL FINANCIAL PROVISIONS
USE OF EXCESS REVENUE.
Not yet in force
Text of section effective on April 01, 2027
Text — Current through the 89th 2nd Called Legislative Session, 2025
If the authority receives revenue in excess of that required for the purposes specified by Sections 8512.0405(b)(1), (2), (3), and (5), the board may:
(1) use the excess revenue to:
(A) establish a reasonable depreciation and emergency fund; or
(B) retire bonds issued under this chapter by purchase and cancellation or redemption; or
(2) apply the excess revenue to any corporate purpose.
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.02, eff. April 1, 2027.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8512.htm
- Text hash
- sha256 de109b87307048085c3938c94293f1de8c68d222546bf019d84e5b02239d1155
- 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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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.